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Bullish Extension

EURUSD TECHS
  • RES 4: 1.2414 High Apr 17, 2018
  • RES 3: 1.2353 High Apr 20, 2018
  • RES 2: 1.2285 High Jan 8
  • RES 1: 1.2245 High May 19
  • PRICE: 1.2250 @ 09:29 BST May 25
  • SUP 1: 1.2160/26 Low May 19 / Low May 17
  • SUP 2: 1.2052 Low May 13 and key short-term support
  • SUP 3: 1.2057 50-day EMA
  • SUP 4: 1.1986 Low May 5 and key short-term support

EURUSD has started the week on a firmer note. The pair has also traded higher this morning and breached resistance at 1.2245, May 19 high. This strengthens the bullish outlook and opens 1.2285, Jan 8 high. Further out, the 2021 high of 1.2349, Jan 6 high beckons. On the downside, key short-term support has been defined at 1.2052, May 13 low while initial support is at 1.2160, the May 19 low. A break of 1.2052 would signal a top.

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