in ANALISA by hafid zaini

7645473 7/13/2017 12:21 PM, EUR/RUB intraday: the RSI is overbought


Our pivot point stands at 68.480.


Our preference

: our next up target stands at 69.570.


Alternative scenario

: the downside breakout of 68.480 would call for 68.090 and 67.850.


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 negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the pair is above its 20 and 50 MAs (respectively at 68.564 and 68.853). Finally, the EUR/RUB has crossed above its upper Bollinger band (68.798).


Supports and resistances

:

70.040 **

69.800 *

69.570 **

69.340

68.863 last

68.630

68.480 **

68.090 *

67.850 **