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Approaching The Bull Trigger

EURUSD TECHS
  • RES 4: 1.1225 1.236 projection of the Mar 15 - 23 - 24 price swing
  • RES 3: 1.1185 High Mar 31 2022
  • RES 2: 1.1127 1.00 projection of the Mar 15 - 23 - 24 price swing
  • RES 1: 1.1095 High Apr 26 and key resistance
  • PRICE: 1.1082 @ 05:33 BST May 4
  • SUP 1: 1.0999/42 Low May 3 / 2 and a key short-term support
  • SUP 2: 1.0909 Low Apr 17
  • SUP 3: 1.0872/31 50-day EMA / Low Apr 10
  • SUP 4: 1.0788 Low Apr 3

EURUSD remains in an uptrend and the pair continues to recover from Tuesday’s low. Sights are on 1.1095, the Apr 26 high and bull trigger. A break would confirm a resumption of the uptrend and open 1.1127, a Fibonacci projection. Moving average studies remain in a bull-mode condition highlighting bullish sentiment. Key S/T support has been defined at 1.0942, Tuesday’s low. A clear break of it would signal scope for a deeper correction.

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