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Bull Cycle Extends

EURUSD TECHS
  • RES 4: 1.0368 High Aug 10
  • RES 3: 1.0327 1.50 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 2: 1.0273 1.382 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 1: 1.0222 High Nov 10
  • PRICE: 1.0213 @ 05:38 GMT Nov 11
  • SUP 1: 1.0094 High Oct 27 and a key near-term resistance
  • SUP 2: 0.9936 Low Nov 10
  • SUP 3: 0.9898 Low Nov 7
  • SUP 4: 0.818 Trendline support drawn from the Sep 28 low

EURUSD surged Thursday to print a new weekly high, as a soft CPI release dented the dollar. This has resulted in a break of key short-term resistance at 1.0094, strengthening the bullish case and again highlighting the bullish significance of the recent bear channel breakout that occurred on Oct 25. Price has also breached resistance at 1.0198, reinforcing the current bull theme. This opens 1.0273, a Fibonacci projection. Initial support is at 1.0094.

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  • RES 4: 1.0368 High Aug 10
  • RES 3: 1.0327 1.50 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 2: 1.0273 1.382 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 1: 1.0222 High Nov 10
  • PRICE: 1.0213 @ 05:38 GMT Nov 11
  • SUP 1: 1.0094 High Oct 27 and a key near-term resistance
  • SUP 2: 0.9936 Low Nov 10
  • SUP 3: 0.9898 Low Nov 7
  • SUP 4: 0.818 Trendline support drawn from the Sep 28 low

EURUSD surged Thursday to print a new weekly high, as a soft CPI release dented the dollar. This has resulted in a break of key short-term resistance at 1.0094, strengthening the bullish case and again highlighting the bullish significance of the recent bear channel breakout that occurred on Oct 25. Price has also breached resistance at 1.0198, reinforcing the current bull theme. This opens 1.0273, a Fibonacci projection. Initial support is at 1.0094.