Our pivot point stands at 1.0298.
Our preference: the downside prevails as long as 1.0298 is resistance.
Alternative scenario: above 1.0298, look for 1.0326 and 1.0343.
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 is trading under both its 20 and 50 period moving average (respectively at 1.0328 and 1.0346). Finally, the EUR/USD is trading below its lower Bollinger band (standing at 1.0263).
Supports and resistances:
1.0343 **
1.0326 *
1.0298 **
1.0287
1.0253 last
1.0191
1.0174 **
1.0158 *
1.0141 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 01-02-2025 at 17:35 UTC+1
Price reference: 1.0253 last known on 01-02-2025 at 17:35 UTC+1
Investment horizon: INTRADAY
TRADING CENTRAL recommends reading the legal and regulatory information as well as the warnings concerning the information provided accessible from the following link : https://global.tradingcentral.com/www/pdf/terms_of_use_web_sites_en.pdf