7647104 7/13/2017 6:13 PM, EUR/SEK intraday: the RSI is oversold


Our pivot point stands at 9.5600.


Our preference

: the downside prevails as long as 9.5600 is resistance.


Alternative scenario

: the upside breakout of 9.5600, would call for 9.5850 and 9.5990.


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 stands below its 20 and 50 MAs (respectively at 9.5822 and 9.6010).


Supports and resistances

:

9.5990 **

9.5850 *

9.5600 **

9.5510

9.5409 last

9.5000

9.4860 **

9.4710 *

9.4570 **