Our pivot point stands at 0.5700.
Our preference: the downside prevails as long as 0.5700 is resistance.
Alternative scenario: above 0.5700, look for 0.5874 and 0.5978.
Comment: the RSI is trading below 30. This could mean that either the price 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 0.5727 and 0.5797).
Supports and resistances:
0.5978 **
0.5874 *
0.5700 **
0.5631
0.5499 last
0.5290
0.5187 **
0.5085 *
0.4982 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 06-03-2022 at 16:02 UTC+1
Price reference: 0.5499 last known on 06-03-2022 at 16:02 UTC+1
Investment horizon: INTRADAY
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