Free Trial

EURUSD TECHS: Off Highs, But Still Bullish

EURUSD TECHS
  • RES 4: 1.1409 2.236 proj of the Jun 26 - Jul 17 - Aug 1 price swing
  • RES 3: 1.1342 2.00 proj of the Jun 26 - Jul 17 - Aug 1 price swing
  • RES 2: 1.1276 High Jul 18 2023
  • RES 1: 1.1234 1.618 proj of the Jun 26 - Jul 17 - Aug 1 price swing
  • PRICE: 1.1135 @ 08:19 BST Sep 27
  • SUP 1: 1.1109/1035 20-day EMA / 50-day EMA
  • SUP 2: 1.1002 Low Sep 11
  • SUP 3: 1.0940 61.8% retracement of the Aug 1 - 26 bull leg
  • SUP 4: 1.0878 76.4% retracement of the Aug 1 - 26 bull leg

The short-term outlook in EURUSD remains bullish, despite the fade off highs Wednesday. 1.1202, the Aug 26 high and a bull trigger, has been pierced. A clear break of this hurdle would confirm a resumption of the uptrend and pave the way for a move towards 1.1234, a Fibonacci projection and 1.1276, the Jul 18 '23 high. Support to watch is the 20-day EMA, at 1.1109, it has been pierced but remains intact.

169 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • RES 4: 1.1409 2.236 proj of the Jun 26 - Jul 17 - Aug 1 price swing
  • RES 3: 1.1342 2.00 proj of the Jun 26 - Jul 17 - Aug 1 price swing
  • RES 2: 1.1276 High Jul 18 2023
  • RES 1: 1.1234 1.618 proj of the Jun 26 - Jul 17 - Aug 1 price swing
  • PRICE: 1.1135 @ 08:19 BST Sep 27
  • SUP 1: 1.1109/1035 20-day EMA / 50-day EMA
  • SUP 2: 1.1002 Low Sep 11
  • SUP 3: 1.0940 61.8% retracement of the Aug 1 - 26 bull leg
  • SUP 4: 1.0878 76.4% retracement of the Aug 1 - 26 bull leg

The short-term outlook in EURUSD remains bullish, despite the fade off highs Wednesday. 1.1202, the Aug 26 high and a bull trigger, has been pierced. A clear break of this hurdle would confirm a resumption of the uptrend and pave the way for a move towards 1.1234, a Fibonacci projection and 1.1276, the Jul 18 '23 high. Support to watch is the 20-day EMA, at 1.1109, it has been pierced but remains intact.