in ANALISA by hafid zaini

7647085 7/13/2017 6:10 PM, EUR/CAD intraday: the RSI is oversold


Our pivot point stands at 1.4568.


Our preference

: the downside prevails as long as 1.4568 is resistance.


Alternative scenario

: above 1.4568, look for 1.4649 and 1.4697.


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 negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 1.4553 and 1.4587).


Supports and resistances

:

1.4697 **

1.4649 *

1.4568 **

1.4537

1.4497 last

1.4401

1.4353 **

1.4305 *

1.4257 **