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Bulls Remain In The Driver’s Seat

EURUSD TECHS
  • RES 4: 1.1054 High Apr 4 2022
  • RES 3: 1.1022 3.00 proj of the Sep 28 - Oct 4 - Oct 13 price swing
  • RES 2: 1.0954 High Apr 11, 2022
  • RES 1: 1.0929 High Jan 26
  • PRICE: 1.0922 @ 16:39 GMT Feb 1
  • SUP 1: 1.0802/0767 20-day EMA / Low Jan 18
  • SUP 2: 1.0634 Low Jan 9
  • SUP 3: 1.0635/1.0484 50-day EMA / Low Jan 6
  • SUP 4: 1.0492 3.0% Lower Bollinger Band

EURUSD has recovered well off Tuesday’s low. Bulls remain in the driver’s seat and support remains intact. Pullbacks are considered corrective with support at 1.0802, the 20-day EMA. A break of this level would strengthen a bearish threat and allow for a deeper correction. This would open 1.0767, the Jan 18 low. Note that the trend is overbought. On the upside, the bull trigger is 1.0929, the Jan 26 high. A break would resume the uptrend.

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