Our pivot point stands at 1.0477.
Our preference: the upside prevails as long as 1.0477 is support.
Alternative scenario: the downside breakout of 1.0477 would call for 1.0447 and 1.0429.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.0482 and 1.0447). Finally, the EUR/USD is trading above its upper Bollinger band (standing at 1.0517).
Supports and resistances:
1.0610 **
1.0592 *
1.0574 **
1.0557
1.0517 last
1.0489
1.0477 **
1.0447 *
1.0429 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 01-24-2025 at 17:06 UTC+1
Price reference: 1.0517 last known on 01-24-2025 at 17:06 UTC+1
Investment horizon: INTRADAY
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