EUR/USD Intraday: Rebound towards 1.1114
EUR/USD (EUR/USD)
+0.00038+0.03%
Rebound above 1.1050 towards 1.1114
Our pivot point is at 1.1050.
Our preference: Rebound above 1.1050 towards 1.1114
Alternative scenario: below 1.1050, expect 1.1029 and 1.1016.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. The price stands below its 20 and 50 period moving average (respectively at 1.1090 and 1.1117). The EUR/USD is trading below its lower Bollinger band (standing at 1.1077).
Supports and resistances:
1.1126 *
1.1114 **
1.1101
1.1075 last
1.1050 **
1.1029 *
1.1016 **
Our preference: Rebound above 1.1050 towards 1.1114
Alternative scenario: below 1.1050, expect 1.1029 and 1.1016.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. The price stands below its 20 and 50 period moving average (respectively at 1.1090 and 1.1117). The EUR/USD is trading below its lower Bollinger band (standing at 1.1077).
Supports and resistances:
1.1126 *
1.1114 **
1.1101
1.1075 last
1.1050 **
1.1029 *
1.1016 **
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