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Bear Cycle Remains In Play

EURUSD TECHS
  • RES 4: 1.0943 High Mar 21
  • RES 3: 1.0921 76.4% retracement of the Mar 8 - Apr 2 bear leg
  • RES 2: 1.0802/85 20-day EMA / High Apr 09
  • RES 1: 1.0757 High Apr 11
  • PRICE: 1.0633 @ 16:24 BST Apr 15
  • SUP 1: 1.0623 Low Apr 15
  • SUP 2: 1.0611 76.4% retracement of the Oct - Dec bull rally
  • SUP 3: 1.0568 Low Nov 2 ‘23
  • SUP 4: 1.0517 Low Nov 1 ‘23

EURUSD remains in a bear-mode condition and Monday’s fresh sell-off reinforces current conditions. The break lower resulted in a breach of key support at 1.0695, the Feb 14 low and bear trigger. This confirms a resumption of this year's bear cycle and sights are on 1.0611 next, 76.4% of the Oct - Dec bull rally. A break of this level would open 1.0568, the Nov 2 2023 low. Initial key resistance has been defined at 1.0885, the Apr 9 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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