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Directional Parameters Defined

EURUSD TECHS
  • RES 4: 1.2414 High Apr 17, 2018
  • RES 3: 1.2349/53 High Jan 6 / High Apr 20, 2018
  • RES 2: 1.2285 High Jan 8
  • RES 1: 1.2266 High May 25 and the bull trigger
  • PRICE: 1.2202 @ 05:54 BST Jun 3
  • SUP 1: 1.2133/26 Low May 28 / Low May 17
  • SUP 2: 1.2052 Low May 13 and key short-term support
  • SUP 3: 1.2095 50-day EMA
  • SUP 4: 1.1986 Low May 5

The EURUSD outlook remains bullish. Recent price action has defined two key short-term directional parameters. These are; 1.2133 support, May 28 low and 1.2266 resistance, May 25 high. The latter is the bull trigger where a break would confirm a resumption of the uptrend and open 1.2285, Jan 8 high and the 2021 high of 1.2349, Jan 6 high. A break of 1.2133 would signal scope for a deeper corrective pullback.

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