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EURUSD TECHS: Clears The 50-Day EMA

EURUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.0630 High Dec 6   
  • RES 3: 1.0594 Dec 9 ‘24
  • RES 2: 1.0533 High Jan 27 and a reversal trigger
  • RES 1: 1.0469 Intraday high
  • PRICE: 1.0454 @ 06:10 GMT Feb 14
  • SUP 1: 1.0383 20-day EMA
  • SUP 2: 1.0280/0141 Low Feb 10 / 3 and the bear trigger
  • SUP 3: 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing
  • SUP 4: 1.0031 2.00 proj of the Sep 25 - Oct 23 - Nov 5 price swing

A short-term bull theme in EURUSD remains intact and this week’s gains reinforce current conditions. The move higher yesterday also strengthens a short-term reversal signal on Feb 3 - a hammer - and suggests scope for an extension near-term. The pair has breached the 50-day EMA, at 1.0427. This paves the way for a recovery towards 1.0533, the Jan 27 high. Initial firm support lies at 1.0280, the Feb 10 low.

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  • RES 4: 1.0630 High Dec 6   
  • RES 3: 1.0594 Dec 9 ‘24
  • RES 2: 1.0533 High Jan 27 and a reversal trigger
  • RES 1: 1.0469 Intraday high
  • PRICE: 1.0454 @ 06:10 GMT Feb 14
  • SUP 1: 1.0383 20-day EMA
  • SUP 2: 1.0280/0141 Low Feb 10 / 3 and the bear trigger
  • SUP 3: 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing
  • SUP 4: 1.0031 2.00 proj of the Sep 25 - Oct 23 - Nov 5 price swing

A short-term bull theme in EURUSD remains intact and this week’s gains reinforce current conditions. The move higher yesterday also strengthens a short-term reversal signal on Feb 3 - a hammer - and suggests scope for an extension near-term. The pair has breached the 50-day EMA, at 1.0427. This paves the way for a recovery towards 1.0533, the Jan 27 high. Initial firm support lies at 1.0280, the Feb 10 low.