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Approaching The Bull Trigger

EURUSD TECHS
  • RES 4: 1.0615 High Jun 27
  • RES 3: 1.0559 1.764 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 2: 1.0536 High Jun 29
  • RES 1: 1.0479 High Nov 15 and the bull trigger
  • PRICE: 1.0413 @ 15:19 GMT Nov 24
  • SUP 1: 1.0297 Low Nov 23
  • SUP 2: 1.0242/0198 High Sep 12 / Low Nov 21
  • SUP 3: 1.0094 High Oct 27 and a key near-term resistance
  • SUP 4: 1.0045 50-day EMA

EURUSD continues to recover from Monday’s low of 1.0223. The move higher signals the end of a correction between Nov 15 - 21 and attention is on the key short-term resistance at 1.0479, the Nov 15 high and a bull trigger. A break of this level would confirm a resumption of the uptrend and pave the way for a climb towards 1.0536, the Jun 29 high. On the downside, key short-term support has been defined at 1.0223, the Nov 21 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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