Our pivot point stands at 1.0834.
Our preference: the downside prevails as long as 1.0834 is resistance.
Alternative scenario: above 1.0834, look for 1.0857 and 1.0870.
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 stands below its 20 and 50 period moving average (respectively at 1.0839 and 1.0853).
Supports and resistances:
1.0870 **
1.0857 *
1.0834 **
1.0825
1.0816 last
1.0787
1.0774 **
1.0760 *
1.0747 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 10-21-2024 at 20:33 UTC+1
Price reference: 1.0816 last known on 10-21-2024 at 20:33 UTC+1
Investment horizon: INTRADAY
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