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Key Support Remains Exposed


Pullback Extends, But Still Looks Corrective in Nature


FED Remains in Play Post-NFP/ISM Data

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Bear Channel Resistance Intact

  • RES 4: 1.0198 High Sep 12 and a key resistance
  • RES 3: 1.0051 High Sep 20
  • RES 2: 0.9999 High Oct 4 and a reversal trigger
  • RES 1: 0.9892 Bear channel top from Feb 10 high
  • PRICE: 0.9796 @ 15:58 BST Oct 21
  • SUP 1: 0.9705/9633 Low Oct 21 / 13
  • SUP 2: 0.9536 Low Sep 28 and key support
  • SUP 3: 0.9501 1.382 projection of the Aug 10 - Sep 6 - 12 price swing
  • SUP 4: 0.9442 1.50 projection of the Aug 10 - Sep 6 - 12 price swing

EURUSD remains below Tuesday’s high and printed a new weekly low ahead of the Friday close. Key resistance intersects at 0.9892. This is the top of the bear channel drawn from the Feb 10 high. A clear break of this chart point would highlight a channel breakout and a stronger bullish reversal. For now, with price trading inside the channel, the trend remains down and recent gains are considered corrective. A stronger move lower would open support at 0.9633, the Oct 13 low.

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