EUR/USD Intraday: Target 1,1562
Ana senaryo: As long as 1,1614 remains resistance, we expect the downward movement to continue; targeting 1,1562 and then 1,1548.
Alternatif senaryo: A move above the 1,1614 level brings the 1,1636 and 1,1650 levels into focus.
Comment: RSI (relative strength index) is below 50. MACD (trend deviation indicator) is below its signal line and negative. The configuration is negative; the current price is below the 20 and 50 moving averages (at 1,1608 and 1,1608 levels respectively) and is running below the upper Bollinger band. The point to note is that the 20 and 50 averages overlap at the same level: this shows that the band is squeezing and only 6 points of space remain between the pivot and the averages. In such a narrow area, a stop-loss order placed right above the pivot may get caught in noise regardless of direction.
This content is for general information purposes and is not investment advice.
