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EUR/USD Intraday: the upside prevails as long as 1.0351 is support

Feb 4, 2025 6:16 PM
the upside prevails as long as 1.0351 is support.
image
Our pivot point stands at 1.0351.
Our preference:
the upside prevails as long as 1.0351 is support.
Alternative scenario:
the downside breakout of 1.0351 would call for 1.0322 and 1.0305.
Comment:
the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (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 1.0350 and 1.0326).
Supports and resistances:
1.0466 **
1.0449 *
1.0432 **
1.0414
1.0379 last
1.0363
1.0351 **
1.0322 *
1.0305 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.

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EUR/USD
1.173
-0.000
-0.02%
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