Our pivot point is at 1.2670.
Our preference: the upside prevails as long as 1.2670 is support
Alternative scenario: below 1.2670, expect 1.2628 and 1.2603.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2656 and 1.2618).
Supports and resistances:
1.2835 **
1.2810 *
1.2785 **
1.2760
1.2708 last
1.2686
1.2670 **
1.2628 *
1.2603 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 03-03-2025 at 23:00 UTC+1
Price reference: 1.2708 last known on 03-03-2025 at 23:00 UTC+1
Investment horizon: INTRADAY
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