Synthesis
1.0871 is our pivot point.
Our preference : bearish below 1.0871.
Alternative scenario : exceeding 1.0871, EUR/USD could go to 1.0884 and 1.0892.
Comment
The RSI is below 30, which may show a bearish trend that will continue or an oversold state and therefore a technical recovery is necessary. We can compare the evolution of the RSI with the prices to detect the appearance of divergences between the two. The MACD is negative and below its signal line. The setup is bearish. Additionally, prices are below their 20 and 50 moving averages, currently located at 1.0890 and 1.0911.
| Tendency | Calculated data | ||
|---|---|---|---|
| Technical advice | Positive | Prices as of 03/21 | 1.0858 |
| Basic trend | Bullish | Pivot | 1.0871 |
| Bracket 1 | 1.0842 | Additional distance 1 | – 0.0016 |
| Bracket 2 | 1.0834 | Additional distance 2 | – 0.0024 |
| Resistance 1 | 1.0871 | Additional variation 1 | -0.15% |
| Resistance 2 | 1.0884 | Additional variation 2 | -0.22% |
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