Our pivot point stands at 1.2700.
Our preference: the downside prevails as long as 1.2700 is resistance.
Alternative scenario: above 1.2700, look for 1.2733 and 1.2752.
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 is trading under both its 20 and 50 period moving average (respectively at 1.2705 and 1.2738).
Supports and resistances:
1.2752 **
1.2733 *
1.2700 **
1.2687
1.2670 last
1.2630
1.2610 **
1.2590 *
1.2571 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 12-12-2024 at 21:49 UTC+1
Price reference: 1.2670 last known on 12-12-2024 at 21:49 UTC+1
Investment horizon: INTRADAY
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