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EURJPY TECHS

Needle Still Points North

USDJPY TECHS

Consolidating At Trendline Support

EURGBP TECHS

Support Remains Under Pressure

GBPUSD TECHS

Key Resistance Exposed

EURUSD TECHS

Consolidating

EUROSTOXX50 TECHS

(M1) Approaching Key Support

Cracks the 50-day EMA

EURUSD TECHS
  • RES 4: 1.2380 2.00 proj of Nov 4 - 9 rally from the Nov 11 low
  • RES 3: 1.2353 High Apr 20, 2018
  • RES 2: 1.2349 High Jan 6
  • RES 1: 1.2230/85 High Jan 11 / 8
  • PRICE: 1.2070 @ 05:02 GMT Jan 18
  • SUP 1: 1.2059 Low Dec 9
  • SUP 2: 1.2011 High Sep 1 and a former breakout level
  • SUP 3: 1.2000 Round figure support
  • SUP 4: 1.1968 2.0% 10-dma envelope
EURUSD is trading closer to recent lows. The move lower since Jan 6 signals the start of a correction that is allowing a recent overbought condition to unwind. Price action has this week traded through the 20-day and now 50-day EMAs to expose the early Dec lows at 1.2059, printed on Dec 9. Note too that the most recent consolidation appears to be a bear flag, reinforcing bearish conditions.1.2230 marks initial resistance.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com