Our pivot point is at 1.0788.
Our preference: the upside prevails as long as 1.0788 is support.
Alternative scenario: the downside breakout of 1.0788 would call for 1.0765 and 1.0752.
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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.0769 and 1.0747). Finally, the EUR/USD is trading above its upper Bollinger band (standing at 1.0809).
Supports and resistances:
1.0879 **
1.0866 *
1.0852 **
1.0838
1.0809 last
1.0797
1.0788 **
1.0765 *
1.0752 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 11-07-2024 at 16:17 UTC+1
Price reference: 1.0809 last known on 11-07-2024 at 16:17 UTC+1
Investment horizon: INTRADAY
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