Identified : 14 January 2020
Our pivot point stands at : 8484
Our preference : the upside prevails as long as 8484 is support.
Alternative scenario : the downside breakout of 8484 would call for 8456 and 8440.
Supports and resistances :
8507 – Last
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 positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 8266 and 8179).
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Warning : This information isn’t a buy-sell signal. Please use this information for the trade guideline.