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Attention Is On The Bear Trigger

EURUSD TECHS
  • RES 4: 1.1222 61.8% of Feb 10 - Mar 7 sell-off
  • RES 3: 1.1185/1214 High Mar 31 / 3.0% Upper Bollinger Band
  • RES 2: 1.1109 50-day EMA
  • RES 1: 1.1009 20-day EMA
  • PRICE: 1.0871 @ 19:25 BST Apr 8
  • SUP 1: 1.0837 Low Mar 8
  • SUP 2: 1.0806 Low Mar 7 and the bear trigger
  • SUP 3: 1.0767 Low May 7 2020
  • SUP 4: 1.0727 Low Apr 24, 2020

EURUSD traded lower Friday and sights are on the key support at 1.0806, the Mar 7 low and a bear trigger. The recent failure at 1.1185, Mar 31 high, and an inability to remain above the 50-day EMA, highlights a bearish threat. Last week’s move lower has reinforced this theme. A break of 1.0806 would confirm a resumption of the downtrend and open 1.0767, the May 7 2020 low. Clearance of 1.1185 is needed to reinstate a bull theme.

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