EURUSD: The RSI is oversold.
The RSI is below 30.
It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). 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 1.1285 and 1.1312).
Our preference: The downside prevails as long as 1.1285 is resistance.
It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). 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 1.1285 and 1.1312).
Our preference: The downside prevails as long as 1.1285 is resistance.
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