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Extends This Week’s Gains

  • RES 4: 1.1076 High Apr 1
  • RES 3: 1.1026 50-day EMA
  • RES 2: 1.0989 High Apr 5
  • RES 1: 1.0936 High Apr 21
  • PRICE: 1.0871 @ 15:37 BST Apr 21
  • SUP 1: 1.0824/0758 Intraday low / Low Apr 14 and the bear trigger
  • SUP 2: 1.0727 Low Apr 24, 2020 and bear trigger
  • SUP 3: 1.0659 0.764 proj of the Feb 10 - Mar 7 - 31 price swing
  • SUP 4: 1.0636 Low March 23 2020

EURUSD traded firmer Thursday as it extends this week’s recovery. Price action has traded through resistance at 1.0904, the 20-day EMA. This is a positive short-term development and suggests potential for an extension higher near-term, potentially towards the 50-day EMA, at 1.1026. Short-term gains are still considered corrective and the 50-day EMA represents the next key resistance point. The bear trigger is 1.0758, the Apr 14 low.

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