in ANALISA by hafid zaini

7624990 7/7/2017 12:36 PM, EUR/INR intraday: the RSI is overbought


Our pivot point is at 73.678.


Our preference

: the upside prevails as long as 73.678 is support.


Alternative scenario

: below 73.678, expect 73.412 and 73.253.


Comment

: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 73.614 and 73.553).


Supports and resistances

:

74.706 **

74.548 *

74.389 **

74.230

73.890 last

73.783

73.678 **

73.412 *

73.253 **