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Eyeing The 20-Day EMA

EURUSD TECHS

EURUSD TECHS:

  • RES 4: 1.1821 High Sep 16
  • RES 3: 1.1755/57 High Sep 22 / Bear channel from Jun 1 high
  • RES 2: 1.1712 50-day EMA
  • RES 1: 1.1629/40 20-day EMA / High Oct 4
  • PRICE: 1.1609 @ 06:15 BST Oct 15
  • SUP 1: 1.1524 Low Oct 12 and the bear trigger
  • SUP 2: 1.1493 50.0% retracement of the Mar '20 - Jan '21 bull phase
  • SUP 3: 1.1469 1.236 proj of the Jan 6 - Mar 31 - May 25 price swing
  • SUP 4: 1.1417 Bear channel base drawn from the Jun 1 high

EURUSD is holding onto recent gains and attention is on the 20-day EMA that intersects at 1.1629. A break would signal scope for a stronger recovery however, short-term gains would be considered corrective with a broader bearish trend condition still intact. A price sequence of lower lows and lower highs and bearish moving average conditions both highlight a downtrend. The bear trigger is 1.1524, Oct 12 low.

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