EUR/USD intraday: below its lower Bollinger band

EURUSD

Trading Central 2021-02-20 03:01:13

Our pivot point stands at 1.2136.

Our preference: target 1.2053.

Alternative scenario: the upside breakout of 1.2136, would call for 1.2166 and 1.2184.

Comment: the RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (1.2131) but above its 50 period moving average (1.2108). Finally, the EUR/USD is trading below its lower Bollinger band (standing at 1.2114).

Supports and resistances:

1.2184 **

1.2166 *

1.2136 **

1.2125

1.2113 last

1.2071

1.2053 **

Disclaimer

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