Free Trial

Bulls Pause For Breath

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: 1.0887 High Jan 18
  • PRICE: 1.0793 @ 05:46 GMT Jan 19
  • SUP 1: 1.0700 20-day EMA
  • SUP 2: 1.0634 Low Jan 9
  • SUP 3: 1.0533/1.0484 50-day EMA / Low Jan 6
  • SUP 4: 1.0406 3.0% Lower Bollinger Band

EURUSD pulled back again from another new high yesterday, maintaining the sell-on-rallies theme evident over the past week. Nonetheless, the recent move lower is likely a correction and the outlook remains bullish. The recent break of 1.0787, May 30 2022 high, maintains the bullish price sequence and MA studies continue to highlight a bullish backdrop. Sights are on 1.0913, a Fibonacci projection. Initial firm support is at 1.0700, the 20-day EMA.

To read the full story

Close

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.