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Free AccessBullish Trend Sequence Remains Intact
- RES 4: 1.0851 High Apr 25
- RES 3: 1.0828 2.0% 10-dma envelope
- RES 2: 1.0787 High May 30 and a key resistance
- RES 1: 1.0736 2.382 proj of the Sep 28 - Oct 4 - 13 price swing
- PRICE: 1.0662 @ 05:50 GMT Jan 3
- SUP 1: 1.0587 20-day EMA
- SUP 2: 1.0528 Low Dec 13
- SUP 3: 1.0443 Low Dec 7 and a key short-term support
- SUP 4: 1.0411 50-day EMA
EURUSD remains in a consolidation mode. The trend outlook is bullish and pullbacks are considered corrective. The pair is trading closer to its recent highs and maintains the positive price sequence of higher highs and higher lows. Sights are on 1.0736, a Fibonacci projection. 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 1.0587, the 20-day EMA.
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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.