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Bull Trigger Remains Exposed

EURUSD TECHS
  • RES 4: 1.0615 High Jun 27
  • RES 3: 1.0559 1.764 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 2: 1.0536 High Jun 29
  • RES 1: 1.0479 High Nov 15 and the bull trigger
  • PRICE: 1.0413 @ 06:00 GMT Nov 25
  • SUP 1: 1.0297 Low Nov 23
  • SUP 2: 1.0223/0198 Low NOv 21 / High Sep 12
  • SUP 3: 1.0094 High Oct 27 and a key near-term resistance
  • SUP 4: 1.0072 50-day EMA

EURUSD is holding on to this week’s gains and remains above 1.0223, the Nov 21 low. This week’s recovery signals the end of a correction between Nov 15 - 21 and attention is on key short-term resistance at 1.0479, the Nov 15 high and a bull trigger. A break of this level would confirm a resumption of the uptrend and open 1.0536, the Jun 29 high. On the downside, 1.0223 marks the key short-term support.

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