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Bearish Extension

EURUSD TECHS
  • RES 4: 1.1127 1.00 projection of the Mar 15 - 23 - 24 price swing
  • RES 3: 1.1054/95 High May 8 / High Apr 26 and key resistance
  • RES 2: 1.1007 High May 10
  • RES 1: 1.0905/0945 High May 16 / 20-day EMA
  • PRICE: 1.0832 @ 15:42 BST May 17
  • SUP 1: 1.0805 50.0% retracement of the Mar 15 - Apr 26 bull run
  • SUP 2: 1.0788 Low Apr 3
  • SUP 3: 1.0737 61.8% retracement of the Mar 15 - Apr 26 bull run
  • SUP 4: 1.0713 Low Mar 24

EURUSD traded lower Wednesday. The pair maintains a bearish short-term tone following the recent break of former support at 1.0942, the May 2 low. The 50-day EMA, at 1.0891 and a key support, has also been breached. This signals scope for an extension lower towards 1.0805 next, 50.0% retracement of the Mar 15 - Apr 26 bull run. The current pullback is still considered corrective. Initial firm resistance is at 1.0945, the 20-day EMA.

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

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