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Bear Channel Breakout

EURUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.0981 High Mar 8 and a key resistance
  • RES 3: 1.0943 High Mar 21
  • RES 2: 1.0885 High Apr 9
  • RES 1: 1.0869 Intraday high
  • PRICE: 1.0852 @ 13:397 BST May 15
  • SUP 1: 1.0769/24 50-day EMA / Low May 3
  • SUP 2: 1.0650/0601 Low May 1 / Low Apr 16 and the bear trigger
  • SUP 3: 1.0568 Low Nov 2 2023
  • SUP 4: 1.0494 Base of a bear channel drawn from the Dec 28 high

EURUSD is trading higher confirming once again, an extension of the bull leg that started Apr 16. The move higher today highlights a clear bear channel break out - price is through the top of at 1.0832 and the channel is drawn from the Dec 28 high. This opens 1.0885 next, the Apr 9 high. A break of this level would open 1.0943, the Mar 21 high. Initial firm support lies at 1.0769, the 50-day EMA.

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  • RES 4: 1.0981 High Mar 8 and a key resistance
  • RES 3: 1.0943 High Mar 21
  • RES 2: 1.0885 High Apr 9
  • RES 1: 1.0869 Intraday high
  • PRICE: 1.0852 @ 13:397 BST May 15
  • SUP 1: 1.0769/24 50-day EMA / Low May 3
  • SUP 2: 1.0650/0601 Low May 1 / Low Apr 16 and the bear trigger
  • SUP 3: 1.0568 Low Nov 2 2023
  • SUP 4: 1.0494 Base of a bear channel drawn from the Dec 28 high

EURUSD is trading higher confirming once again, an extension of the bull leg that started Apr 16. The move higher today highlights a clear bear channel break out - price is through the top of at 1.0832 and the channel is drawn from the Dec 28 high. This opens 1.0885 next, the Apr 9 high. A break of this level would open 1.0943, the Mar 21 high. Initial firm support lies at 1.0769, the 50-day EMA.