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Bull Trend Remains Intact

EURUSD TECHS
  • RES 4: 1.2380 2.00 proj of Nov 4 - 9 rally from the Nov 11 low
  • RES 3: 1.2366 3.0% Upper Bollinger Band
  • RES 2: 1.2353 High Apr 20, 2018
  • RES 1: 1.2310 High Dec 30 and the bull trigger
  • PRICE: 1.2271 @ 05:54 GMT Jan 5
  • SUP 1: 1.2209 Low Dec 31
  • SUP 2: 1.2179 20-day EMA
  • SUP 3: 1.2130 Low Dec 21
  • SUP 4: 1.2105 Low Dec 11

EURUSD maintains a firmer tone despite pulling back from yesterday's high. We have recently highlighted that the daily trend condition is overbought and this suggests the pair is due a correction. The break higher last week though puts this on hold. The recent resumption of the uptrend signals scope for 1.2353, Apr 20, 2018 high ahead of 1.2366, a Bollinger band ceiling. On the downside key trend support lies at 1.2130, Dec 21 low.

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