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Bull Cycle Meets First Test

EURUSD TECHS
  • RES 4: 1.0450 1.764 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 3: 1.0368 High Aug 10
  • RES 2: 1.0327 1.50 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 1: 1.0324 High Nov 11
  • PRICE: 1.0301 @ 15:11 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 traded higher again Friday, with the post-US CPI rally extending to meet its first test at 1.0327 - the 1.50 proj of the Sep 28 - Oct 4 - 13 price swing. This contained prices into the close, but momentum remains in favour of the bulls after the break of 1.0094, the Oct 27 high and 1.0198, the Sep 12 high. Initial firm support is at 1.0094 ahead of the firmer support at Thursday’s 0.9936 low.

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  • RES 4: 1.0450 1.764 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 3: 1.0368 High Aug 10
  • RES 2: 1.0327 1.50 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 1: 1.0324 High Nov 11
  • PRICE: 1.0301 @ 15:11 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 traded higher again Friday, with the post-US CPI rally extending to meet its first test at 1.0327 - the 1.50 proj of the Sep 28 - Oct 4 - 13 price swing. This contained prices into the close, but momentum remains in favour of the bulls after the break of 1.0094, the Oct 27 high and 1.0198, the Sep 12 high. Initial firm support is at 1.0094 ahead of the firmer support at Thursday’s 0.9936 low.