EUR/USD Intraday: above its upper Bollinger band
Feb 4, 2025 3:30 PM
the upside prevails as long as 1.0335 is support.
1.0335 is our pivot point.
Our preference:
the upside prevails as long as 1.0335 is support.
Alternative scenario:
the downside breakout of 1.0335 would call for 1.0306 and 1.0288.
Comment:
the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.0329 and 1.0316). Finally, the EUR/USD has crossed above its upper Bollinger band (1.0370).
Supports and resistances:
1.0464 **
1.0447 *
1.0430 **
1.0412
1.0372 last
1.0346
1.0335 **
1.0306 *
1.0288 **
Our preference:
the upside prevails as long as 1.0335 is support.
Alternative scenario:
the downside breakout of 1.0335 would call for 1.0306 and 1.0288.
Comment:
the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.0329 and 1.0316). Finally, the EUR/USD has crossed above its upper Bollinger band (1.0370).
Supports and resistances:
1.0464 **
1.0447 *
1.0430 **
1.0412
1.0372 last
1.0346
1.0335 **
1.0306 *
1.0288 **
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