Free Trial

Bullish Conditions Remain Intact

EURUSD TECHS
  • RES 4: 1.1139 High Dec 29 ‘ 23 and a key resistance
  • RES 3: 1.1084 High Dec 29
  • RES 2: 1.1046 High Jan 2
  • RES 1: 1.1012 76.4% retracement of the Dec 28 ‘23 - Apr 16 downleg
  • PRICE: 1.0920 @ 06:01 BST Aug 9
  • SUP 1: 1.0871 20-day EMA
  • SUP 2: 1.0837 50-day EMA
  • SUP 3: 1.0778 Low Aug 1 and a key support
  • SUP 4: 1.0736 Low Jul 3

EURUSD is unchanged and remains in consolidation mode. A bull theme is intact following recent gains and the break of key short-term resistance at 1.0948, the Jul 17 high. The move higher confirmed a resumption of the uptrend and opens 1.1012 next, a Fibonacci retracement. Key short-term support has been defined at 1.0778, Aug 1 low. A pullback would be considered corrective. Initial support to watch lies at 1.0871, the 20-day EMA.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.