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Free AccessBullish Trend Structure Remains Intact
- RES 4: 1.2011 High Sep and key resistance
- RES 3: 1.1917 Sep 10 high / 76.4% of the Sep 1 - 25 sell-off
- RES 2: 1.1904 1.0% 10-dma envelope
- RES 1: 1.1881 High Oct 21 and the bull trigger
- PRICE: 1.1834 @ 16:19 GMT Oct 27
- SUP 1: 1.1787/60 Low Oct 23 / Oct 20
- SUP 2: 1.1749 50-day EMA
- SUP 3: 1.1735 Trendline support drawn off the Sep 28 low
- SUP 4: 1.1689 Low Oct 15 and a key support
EURUSD is still trading below last week's high of 1.1881. Despite the recent shallow pullback, the outlook remains positive and the move lower is considered corrective. The recent breach of 1.1831, Oct 9 high reinforced the current bullish price structure and signals scope for 1.1917 next, a retracement level with the major resistance and hurdle for bulls at 1.2011, Sep 1 high. Key short-term trendline support is at 1.1735.
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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.