EUR/USD Intraday: look for a drop towards 1.1107 before a bounce
Sep 18, 2024 4:35 PM
look for a drop towards 1.1107 before a bounce.
Our pivot point stands at 1.1107.
Our preference:
look for a drop towards 1.1107 before a bounce.
Alternative scenario:
the downside breakout of 1.1107 would call for 1.1083 and 1.1069.
Comment:
the RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the pair is trading under its 20 period moving average (1.1127) but above its 50 period moving average (1.1123).
Supports and resistances:
1.1196 **
1.1182 *
1.1168 **
1.1154
1.1126 last
1.1116
1.1107 **
1.1083 *
1.1069 **
Our preference:
look for a drop towards 1.1107 before a bounce.
Alternative scenario:
the downside breakout of 1.1107 would call for 1.1083 and 1.1069.
Comment:
the RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the pair is trading under its 20 period moving average (1.1127) but above its 50 period moving average (1.1123).
Supports and resistances:
1.1196 **
1.1182 *
1.1168 **
1.1154
1.1126 last
1.1116
1.1107 **
1.1083 *
1.1069 **
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EUR/USD
1.11611
0.00003
+0.00%