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Builds On This Week’s Gains

EURUSD TECHS
  • RES 4: 1.1280 Low Feb 14
  • RES 3: 1.1203/32 50-day EMA / 61.8% of Feb 10 - Mar 7 sell-off
  • RES 2: 1.1190 2.0% 10-dma envelope
  • RES 1: 1.1137 High Mar 17
  • PRICE: 1.1119 @ 16:53 GMT Mar 17
  • SUP 1: 1.0890/06 Low Mar 9 / Low Mar 7 and the bear trigger
  • SUP 2: 1.0767 Low May 7 2020
  • SUP 3: 1.0727 Low Apr 24, 2020
  • SUP 4: 1.0654 2.50 proj of the Jan - Mar - May 2021 price swing

EURUSD is building on the week’s gains, accelerating the upside on the break of key short-term resistance of 1.1121 - the Jan 28 low, a recent breakout level plus the Mar 10 high. This improves the near-term outlook, opening gains toward 1.1190, the 2.0% 10-dma envelope as well as the 50-day EMA of 1.1203. A reversal lower would refocus attention on the bear trigger at 1.0806, Mar 7 low.

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