EUR/USD Intraday: look for a drop towards 1.0525 before a bounce
Nov 15, 2024 5:54 PM
look for a drop towards 1.0525 before a bounce.
1.0525 is our pivot point.
Our preference:
look for a drop towards 1.0525 before a bounce.
Alternative scenario:
the downside breakout of 1.0525 would call for 1.0498 and 1.0481.
Comment:
the RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the pair is trading under its 20 period moving average (1.0560) but above its 50 period moving average (1.0548).
Supports and resistances:
1.0640 **
1.0623 *
1.0607 **
1.0591
1.0554 last
1.0536
1.0525 **
1.0498 *
1.0481 **
Our preference:
look for a drop towards 1.0525 before a bounce.
Alternative scenario:
the downside breakout of 1.0525 would call for 1.0498 and 1.0481.
Comment:
the RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the pair is trading under its 20 period moving average (1.0560) but above its 50 period moving average (1.0548).
Supports and resistances:
1.0640 **
1.0623 *
1.0607 **
1.0591
1.0554 last
1.0536
1.0525 **
1.0498 *
1.0481 **
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Related Instruments
EUR/USD
1.186
-0.001
-0.06%
