EUR/PLN intraday: as long as 3.961 is support look for 3.974
26-May-11
05:07
3.961 is our pivot point.
Our preference: as long as 3.961 is support look for 3.974.
Alternative scenario: the downside breakout of 3.961 would call for 3.956 and 3.953.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is above its 20 and 50 MAs (standing respectively at 3.9582 and 3.9448).
Supports and resistances:
3.977 *
3.974 **
3.971
3.96508 last
3.963
3.961 **
3.956 *
Ticker: EURPLN
