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EUR/USD intraday: below its lower Bollinger band

2024-02-01
597

Our pivot point is at 1.0820.

Our preference: the downside prevails as long as 1.0820 is resistance.

Alternative scenario: the upside breakout of 1.0820, would call for 1.0842 and 1.0854.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.0844 and 1.0835). Finally, the EUR/USD is trading below its lower Bollinger band (standing at 1.0805).

Supports and resistances:

1.0854 **

1.0842 *

1.0820 **

1.0812

1.0797 last

1.0769

1.0756 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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