August 21, 2024 04:58 GMT
EURUSD TECHS: Heading North
EURUSD TECHS
- RES 4: 1.1276 High Jul 18 2023
- RES 3: 1.1201 1.50 proj of the Jun 26 - Jul 17 - Aug 1 price swing
- RES 2: 1.1168 1.382 proj of the Jun 26 - Jul 17 - Aug 1 price swing
- RES 1: 1.1139 High Dec 29 2023 and a key resistance
- PRICE: 1.1105 @ 16:20 BST Aug 20
- SUP 1: 1.1014/0955 Low Aug 19 / 20-day EMA
- SUP 2: 1.0886 50-day EMA
- SUP 3: 1.0778 Low Aug 1 and a key support
- SUP 4: 1.0736 Low Jul 3
The trend condition in EURUSD remains bullish and this week’s appreciation reinforces the current set-up. Moving average studies remain in a bull-mode set-up, highlighting a rising trend. Sights are on 1.1139 next, the Dec 29 ‘23 high and a key resistance. Clearance of this hurdle would further strengthen the bullish condition. This would open 1.1168, a Fibonacci projection. Key short-term support is seen at 1.0955, the 20-day EMA.
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