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Bullish Conditions Intact

EURO-DOLLAR TECHS
  • RES 4: 1.1895 3.0% 10-dma envelope
  • RES 3: 1.1815 High Sep 2018
  • RES 2: 1.1800 Round number resistance
  • RES 1: 1.1781 High Jul 27 / 2.00 proj of Mar 23 - 30 - Apr 24 swing
  • PRICE: 1.1748 @ 10:32 BST Jul 29
  • SUP 1: 1.1639/1581 Low Jul 27 / Low Jul 24
  • SUP 2: 1.1507 Low Jul 22
  • SUP 3: 1.1470 20-day EMA
  • SUP 4: 1.1423 Low Jul 21

EURUSD is holding onto the bulk of recent gains and remains bullish.
The positive theme follows last week's breach of 1.1495, Mar 9 high with
the pair registering fresh 2020 highs. This also confirmed a resumption of
the broader uptrend in place since Mar 20. The focus is on 1.1815, Sep
2018 high. MA and momentum studies maintain the bullish positions but
note, the trend is overbought. Initial support is 1.1639, Monday's low.

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