in ANALISA by hafid zaini

7640811 7/12/2017 5:10 PM, EUR/ZAR intraday: the RSI is oversold


Our pivot point is at 15.46.


Our preference

: the downside prevails as long as 15.46 is resistance.


Alternative scenario

: above 15.46, look for 15.56 and 15.62.


Comment

: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 15.49 and 15.50).


Supports and resistances

:

15.62 **

15.56 *

15.46 **

15.42

15.36 last

15.23

15.17 **

15.11 *

15.05 **