EUR/USD Intraday: the RSI is oversold
Dec 18, 2024 9:00 PM
the downside prevails as long as 1.0396 is resistance.
Our pivot point stands at 1.0396.
Our preference:
the downside prevails as long as 1.0396 is resistance.
Alternative scenario:
the upside breakout of 1.0396, would call for 1.0425 and 1.0443.
Comment:
the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.0464 and 1.0484). Finally, the EUR/USD is trading below its lower Bollinger band (standing at 1.0372).
Supports and resistances:
1.0443 **
1.0425 *
1.0396 **
1.0384
1.0365 last
1.0314
1.0296 **
1.0279 *
1.0261 **
Our preference:
the downside prevails as long as 1.0396 is resistance.
Alternative scenario:
the upside breakout of 1.0396, would call for 1.0425 and 1.0443.
Comment:
the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.0464 and 1.0484). Finally, the EUR/USD is trading below its lower Bollinger band (standing at 1.0372).
Supports and resistances:
1.0443 **
1.0425 *
1.0396 **
1.0384
1.0365 last
1.0314
1.0296 **
1.0279 *
1.0261 **
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EUR/USD
1.176
-0.000
-0.01%
