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Bull Cycle Remains In Play

EURUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.0981 High Mar 08 and a key resistance
  • RES 3: 1.0964 High Mar 13
  • RES 2: 1.0933 61.8% retracement of the Dec 28 - Apr 16 bear leg
  • RES 1: 1.0916 High Jun 04
  • PRICE: 1.0887 @ 05:58 BST Jun 6
  • SUP 1: 1.0835 20-day EMA
  • SUP 2: 1.0788 Low May 30 and a key short-term support
  • SUP 3: 1.0766 Low May 13
  • SUP 4: 1.0724 Low May 90

A bull cycle in EURUSD remains in play and the pair is trading closer to its recent highs. Recent gains have resulted in a break of 1.0895, the May 16 high and a bull trigger. This confirms a resumption of the bull trend and a flag formation on the daily chart. Moving average studies remain in a bull-mode set-up and highlight an uptrend. Sights are on 1.0933, a Fibonacci retracement. Support to watch lies at 1.0788, the May 30 low.

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  • RES 4: 1.0981 High Mar 08 and a key resistance
  • RES 3: 1.0964 High Mar 13
  • RES 2: 1.0933 61.8% retracement of the Dec 28 - Apr 16 bear leg
  • RES 1: 1.0916 High Jun 04
  • PRICE: 1.0887 @ 05:58 BST Jun 6
  • SUP 1: 1.0835 20-day EMA
  • SUP 2: 1.0788 Low May 30 and a key short-term support
  • SUP 3: 1.0766 Low May 13
  • SUP 4: 1.0724 Low May 90

A bull cycle in EURUSD remains in play and the pair is trading closer to its recent highs. Recent gains have resulted in a break of 1.0895, the May 16 high and a bull trigger. This confirms a resumption of the bull trend and a flag formation on the daily chart. Moving average studies remain in a bull-mode set-up and highlight an uptrend. Sights are on 1.0933, a Fibonacci retracement. Support to watch lies at 1.0788, the May 30 low.