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Bullish Outlook

EURUSD TECHS
  • RES 4: 1.0851 High Apr 25
  • RES 3: 1.0787 High May 30 and a key resistance
  • RES 2: 1.0769/74 2.0% 10-dma envelope / High Jun 9
  • RES 1: 1.0736 2.382 proj of the Sep 28 - Oct 4 - 13 price swing
  • PRICE: 1.0612 @ 05:47 GMT Dec 21
  • SUP 1: 1.0528 Low Dec 13
  • SUP 2: 1.0502 20-day EMA
  • SUP 3: 1.0443 Low Dec 7 and a key short-term support
  • SUP 4: 1.0312 50-day EMA

EURUSD is unchanged and remains below last week’s highs. The latest pullback is considered corrective. Last week’s break higher confirmed a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Sights are on 1.0736, a Fibonacci projection. On the downside, key short-term support to watch is at 1.0443, Dec 7 low, where a break would signal a short-term top. Initial support is 1.0528, the Dec 13 low.

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