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Bullish Focus

  • RES 4: 1.2011 High Sep 1 and major resistance
  • RES 3: 1.1981 2.0% 10-dma envelope
  • RES 2: 1.1971 3.0% Upper Bollinger Band
  • RES 1: 1.1920 High Nov 9
  • PRICE: 1.1825 @ 05:50 GMT Nov 11
  • SUP 1: 1.1773 20-day EMA
  • SUP 2: 1.1752 50-day EMA
  • SUP 3: 1.1711 Low Nov 5
  • SUP 4: 1.1603 Low Nov 4 and the bear trigger

EURUSD retraced Monday and was broadly flat Tuesday. The recent move lower is considered a correction with the pair maintaining a bullish tone following last week's gains and breach of 1.1881, Oct 21 high. The break higher paves opens 1.2011, Sep 1 high. A break of 1.1920, Monday's high would resume the uptrend. On the downside, key support has been defined at 1.1603. A move below this support is required to reinstate a bearish threat.

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