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EUR/USD Intraday: the RSI is oversold
Jun 13, 2024 6:04 PM
the downside prevails as long as 1.0756 is resistance.
Our pivot point stands at 1.0756.
Our preference: the downside prevails as long as 1.0756 is resistance.
Alternative scenario: above 1.0756, look for 1.0771 and 1.0780.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.0780 and 1.0799).
Supports and resistances:
1.0780 **
1.0771 *
1.0756 **
1.0750
1.0742 last
1.0721
1.0712 **
1.0703 *
1.0694 **
Our preference: the downside prevails as long as 1.0756 is resistance.
Alternative scenario: above 1.0756, look for 1.0771 and 1.0780.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.0780 and 1.0799).
Supports and resistances:
1.0780 **
1.0771 *
1.0756 **
1.0750
1.0742 last
1.0721
1.0712 **
1.0703 *
1.0694 **
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EUR/USD
1.14822
-0.00028000000000006
-2.40%