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EURUSD: Clears The 50-Day EMA

EURUSD
USCEEMEABulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.0696 50.0% retracement of the Sep 25 - Jan 13 bear leg 
  • RES 3: 1.0630 High Dec 06
  • RES 2: 1.0574 38.2% retracement of the Sep 25 - Jan 13 bear leg
  • RES 1: 1.0515 Intraday high 
  • PRICE: 1.0486 @ 14:53 GMT Jan 24
  • SUP 1: 1.0364 20-day EMA  
  • SUP 2: 1.0260/0178 Low Jan 15 / 13 and the bear trigger 
  • SUP 3: 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing 
  • SUP 4: 1.0126 2.0% 10-dma envelope   

EURUSD remains in a short-term bull cycle - a correction. The pair has traded higher, today, and this has resulted in a move through resistance at the 50-day EMA, at 1.0456. The break higher strengthens bullish conditions and signals scope for a continuation near-term. Sights are on 1.0574, a Fibonacci retracement point. Initial support to watch is 1.0364, the 20-day EMA.

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  • RES 4: 1.0696 50.0% retracement of the Sep 25 - Jan 13 bear leg 
  • RES 3: 1.0630 High Dec 06
  • RES 2: 1.0574 38.2% retracement of the Sep 25 - Jan 13 bear leg
  • RES 1: 1.0515 Intraday high 
  • PRICE: 1.0486 @ 14:53 GMT Jan 24
  • SUP 1: 1.0364 20-day EMA  
  • SUP 2: 1.0260/0178 Low Jan 15 / 13 and the bear trigger 
  • SUP 3: 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing 
  • SUP 4: 1.0126 2.0% 10-dma envelope   

EURUSD remains in a short-term bull cycle - a correction. The pair has traded higher, today, and this has resulted in a move through resistance at the 50-day EMA, at 1.0456. The break higher strengthens bullish conditions and signals scope for a continuation near-term. Sights are on 1.0574, a Fibonacci retracement point. Initial support to watch is 1.0364, the 20-day EMA.