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Bear Threat Still Present

EURUSD TECHS
  • RES 4: 1.0368 High Aug 10 and a key resistance
  • RES 3: 1.0327 High Aug 12
  • RES 2: 1.0198/0249 High Sep 12 / 76.4% of Aug 10 - Sep 6 downleg
  • RES 1: 1.0104 Bear channel top drawn from the Feb 10 high
  • PRICE: 0.9993 @ 06:18 BST Sep 19
  • SUP 1: 0.9945 Low Sep 16
  • SUP 2: 0.9864 Low Sep 6 and the bear trigger
  • SUP 3: 0.9800 Round number support
  • SUP 4: 0.9785 2.00 projection of the Jun 9 - 15 - 27 price swing

EURUSD remains vulnerable following the reversal lower on Sep 13. Price continues to trade inside the bear channel, drawn from the Feb 10 high. The channel top intersects at 1.0104 and marks a key resistance. A close above it would highlight a stronger reversal and a channel breakout. The trend remains down and moving average studies are in bear mode. The bear trigger is 0.9864, the Sep 6 low.

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