Our pivot point stands at 1.0833.
Our preference: the downside prevails as long as 1.0833 is resistance.
Alternative scenario: the upside breakout of 1.0833, would call for 1.0855 and 1.0869.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (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 1.0828 and 1.0847).
Supports and resistances:
1.0869 **
1.0855 *
1.0833 **
1.0824
1.0814 last
1.0785
1.0772 **
1.0758 *
1.0745 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 10-21-2024 at 23:12 UTC+1
Price reference: 1.0814 last known on 10-21-2024 at 23:12 UTC+1
Investment horizon: INTRADAY
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