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Bull Cycle Extends

EURUSD TECHS
  • RES 4: 1.00774 High Jun 9
  • RES 3: 1.0736 2.382 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 2: 1.0668 2.236 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 1: 1.0615 High Jun 27
  • PRICE: 1.0579 @ 05:42 GMT Dec 5
  • SUP 1: 1.0514 Intraday low
  • SUP 2: 1.0394/0291 Low Dec 1 / Low Nov 30
  • SUP 3: 1.0223/0198 Low Nov 21 / High Sep 12
  • SUP 4: 1.0148 50-day EMA

EURUSD ended last week on a firm note and has started this week trading higher. Thursday’s gains cancelled a bearish signal on Nov 28 - a shooting star candle pattern - and instead confirmed a resumption of the current uptrend. This maintains the positive price sequence of higher highs and higher lows. The focus is on 1.0615, the Jun 27 high. Key short-term support has been defined at 1.0291 low, the Nov 30 low.

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