Free Trial

Bull Cycle Extends

EURUSD TECHS
  • RES 4: 1.1084 High Dec 29
  • RES 3: 1.1034 76.4% retracement of the Dec 28 - Feb 14 bear leg
  • RES 2: 1.0998 High Jan 5
  • RES 1: 1.0981 Intraday high
  • PRICE: 1.0969 @ 16:05 GMT Mar 8
  • SUP 1: 1.0843 50-day EMA
  • SUP 2: 1.0796 Low Feb 29
  • SUP 3: 1.0762/0695 Low Feb 20 / 14 and the bear trigger
  • SUP 4: 1.0656 Low Nov 10

EURUSD traded higher Friday as the pair extends this week’s bull cycle. The pair has breached 1.0969, the 61.8% retracement of the Dec 28 - Feb 14 bear leg. This strengthens bullish conditions and signals scope for a climb towards 1.0998 next, the Jan 5 high. The 76.4% retracement is at 1.1034. On the downside, initial firm support to watch is 1.0843, the 50-day EMA. A break of this average is required to signal a top.

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.