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Continues To Appreciate

EURUSD TECHS
  • RES 4: 1.1081 76.4% retracement of the Jul 18 - Oct 3 downleg
  • RES 3: 1.1065 High Aug 10 and a key resistance
  • RES 2: 1.1005 High Aug 11 and 2.0% 10-dma envelope
  • RES 1: 1.0965 Intraday high
  • PRICE: 1.0959 @ 05:40 GMT Nov 21
  • SUP 1: 1.0825/0756 Low Nov 17 / High Nov 5, recent breakout level
  • SUP 2: 1.0656 Low Nov 10 and key short-term support
  • SUP 3: 1.0568 Low Nov 2
  • SUP 4: 1.0517/0496 Low Nov 1/ 13

A bullish theme in EURUSD remains intact and the pair continues to appreciate. Recent strong gains reinforce the current positive technical picture and the focus is on 1.1005, the Aug 11 high and 1.1065, the Aug 10 high and a key resistance. Moving average studies have crossed and are currently in a bull-mode position, highlighting positive market sentiment. Support lies at 1.0825, the Nov 17 low.

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