Our pivot point stands at 1.0389.
Our preference: the upside prevails as long as 1.0389 is support.
Alternative scenario: below 1.0389, expect 1.0359 and 1.0341.
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 above its 20 and 50 period moving average (respectively at 1.0394 and 1.0377). Finally, the EUR/USD has crossed above its upper Bollinger band (1.0418).
Supports and resistances:
1.0525 **
1.0507 *
1.0489 **
1.0471
1.0430 last
1.0400
1.0389 **
1.0359 *
1.0341 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 12-20-2024 at 18:05 UTC+1
Price reference: 1.0430 last known on 12-20-2024 at 18:05 UTC+1
Investment horizon: INTRADAY
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