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Fades Off Bull Trigger

EURUSD TECHS
  • RES 4: 1.0774 High Jun 9
  • RES 3: 1.0736 2.382 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 2: 1.0668 2.236 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 1: 1.0595/0615 High Dec 5 and bull trigger / High Jun 27
  • PRICE: 1.0522 @ 15:21 GMT Dec 9
  • SUP 1: 1.0443/0394 Low Dec 7 / 1
  • SUP 2: 1.0352/0291 20-day EMA / Low Nov 30
  • SUP 3: 1.0223 Low Nov 21
  • SUP 4: 1.0201 50-day EMA

EURUSD’s mid-week recovery faded into the Friday close, but Thursday’s lows remained untroubled on the move. Attention remains on Monday’s high print of 1.0595. A break would confirm a resumption of the uptrend and open 1.0615, the Jun 27 high. Note that while price remains below 1.0595, a bear candle on Monday - shooting star - continues to highlight a possible short-term bearish threat. A reversal lower would suggest potential for weakness towards 1.0371, the 20-day EMA.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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