Free Trial

Bearish Price Sequence

EURUSD TECHS
  • RES 4: 1.2006 High Jun 29 / Jun 17
  • RES 3: 1.2005 50-day EMA
  • RES 2: 1.1930/1975 High Jun 29 / High Jun 25
  • RES 1: 1.1895 High Jul 6
  • PRICE: 1.1795 @ 05:57 BST Jul 8
  • SUP 1: 1.1782 Low Jul 7
  • SUP 2: 1.1738 Low Apr 5
  • SUP 3: 1.1704 Low Mar 31 and a key support
  • SUP 4: 1.1603 Low Nov 4, 2020

EURUSD traded lower again Wednesday and solidified the break of 1.1808, Jul 2 low. The outlook remains bearish and the move lower maintains the current bearish price sequence of lower lows and lower highs. Price has traded through 1.1795, the Apr 6 low, turning focus to key support at 1.1704, Mar 31 low. Key short-term resistance has been defined at 1.1975, Jun 25 high. Initial firm resistance is at 1.1895, the Tuesday high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.