EUR/USD Intraday: the upside prevails as long as 1.0394 is support
Jan 20, 2025 8:23 PM
the upside prevails as long as 1.0394 is support.
Our pivot point is at 1.0394.
Our preference:
the upside prevails as long as 1.0394 is support.
Alternative scenario:
below 1.0394, expect 1.0366 and 1.0349.
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 above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.0375 and 1.0326).
Supports and resistances:
1.0520 **
1.0503 *
1.0485 **
1.0468
1.0420 last
1.0406
1.0394 **
1.0366 *
1.0349 **
Our preference:
the upside prevails as long as 1.0394 is support.
Alternative scenario:
below 1.0394, expect 1.0366 and 1.0349.
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 above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.0375 and 1.0326).
Supports and resistances:
1.0520 **
1.0503 *
1.0485 **
1.0468
1.0420 last
1.0406
1.0394 **
1.0366 *
1.0349 **
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EUR/USD
1.173
-0.000
-0.02%
