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 above its signal line and positive.
The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 135.3 and 133).
Our preference: The upside prevails as long as 135.1 is support.
Alternative scenario: Below 135.1, expect 130.8 and 128.2.
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 above its signal line and positive.
The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 135.3 and 133).
Our preference: The upside prevails as long as 135.1 is support.
Alternative scenario: Below 135.1, expect 130.8 and 128.2.
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