Our pivot point stands at 1.0968.
Our preference: the upside prevails as long as 1.0968 is support.
Alternative scenario: below 1.0968, expect 1.0935 and 1.0915.
Comment: the RSI is above 70. It could mean either that the pair 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 1.0958 and 1.0934).
Supports and resistances:
1.1096 **
1.1076 *
1.1056 **
1.1037
1.0997 last
1.0981
1.0968 **
1.0935 *
1.0915 **
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 04-12-2023 at 19:48 UTC+1
Price reference: 1.0997 last known on 04-12-2023 at 19:48 UTC+1
Investment horizon: INTRADAY