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Bearish Trend Outlook

EURUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.0943 High Mar 21
  • RES 3: 1.0885 High Apr 09
  • RES 2: 1.0740/0795 20- and 50-day EMA values
  • RES 1: 1.0725 Low Apr 2
  • PRICE: 1.0669 @ 05:49 BST Apr 22
  • SUP 1: 1.0601 Low Apr 16
  • SUP 2: 1.0568 Low Nov 2 ‘23
  • SUP 3: 1.0546 Base of a bear channel drawn from the Dec 28 high
  • SUP 4: 1.0517 Low Nov 1 ‘23

The bear cycle in EURUSD remains in play and price is trading closer to recent lows. The break on Apr 12 of key support at 1.0695, the Feb 14 low and bear trigger, confirmed a resumption of the bear cycle. This signals scope for a move towards 1.0568 next, the Nov 2 2023 low, and 1.0546, the base of a bear channel drawn from the Dec 28 high. Initial firm resistance is seen at 1.0740, the 20-day EMA.

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  • RES 4: 1.0943 High Mar 21
  • RES 3: 1.0885 High Apr 09
  • RES 2: 1.0740/0795 20- and 50-day EMA values
  • RES 1: 1.0725 Low Apr 2
  • PRICE: 1.0669 @ 05:49 BST Apr 22
  • SUP 1: 1.0601 Low Apr 16
  • SUP 2: 1.0568 Low Nov 2 ‘23
  • SUP 3: 1.0546 Base of a bear channel drawn from the Dec 28 high
  • SUP 4: 1.0517 Low Nov 1 ‘23

The bear cycle in EURUSD remains in play and price is trading closer to recent lows. The break on Apr 12 of key support at 1.0695, the Feb 14 low and bear trigger, confirmed a resumption of the bear cycle. This signals scope for a move towards 1.0568 next, the Nov 2 2023 low, and 1.0546, the base of a bear channel drawn from the Dec 28 high. Initial firm resistance is seen at 1.0740, the 20-day EMA.