Our pivot point stands at 145.31.
Our preference: the upside prevails as long as 145.31 is support.
Alternative scenario: the downside breakout of 145.31 would call for 144.59 and 144.16.
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 above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 145.60 and 145.32).
Supports and resistances:
148.07 **
147.64 *
147.21 **
146.79
145.89 last
145.59
145.31 **
144.59 *
144.16 **
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 04-11-2023 at 21:51 UTC+1
Price reference: 145.89 last known on 04-11-2023 at 21:51 UTC+1
Investment horizon: INTRADAY