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Bullish Outlook

EURUSD TECHS
  • RES 4: 1.1022 3.00 proj of the Sep 28 - Oct 4 - Oct 13 price swing
  • RES 3: 1.0954 High Apr 11, 2022
  • RES 2: 1.0913 2.764 proj of the Sep 28 - Oct 4 - Oct 13 price swing
  • RES 1: 1.0874 High Jan 16
  • PRICE: 1.0824 @ 05:46 GMT Jan 17
  • SUP 1: 1.0680 20-day EMA
  • SUP 2: 1.0634 Low Jan 9
  • SUP 3: 1.0512/1.0484 50-day EMA / Low Jan 6
  • SUP 4: 1.0402 3.0% Lower Bollinger Band

EURUSD is unchanged and is trading just below its recent highs. The outlook is bullish. Last week’s gains resulted in a break of 1.0787, the May 30 2022 high and a key resistance. The move higher reinforces a bullish theme and note that moving average studies continue to highlight a bullish backdrop. The focus is on 1.0913, a Fibonacci projection. Key support has been defined at 1.0484, the Jan 6 low. Initial firm support lies at 1.0680, the 20-day EMA.

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