Free Trial

Fresh Trend High

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: 1.0731 2.0% 10-dma envelope
  • RES 1: 1.0673 High Dec 13
  • PRICE: 1.0645 @ 16:38 GMT Dec 13
  • SUP 1: 1.0506/0443 Low Dec 12 / 7 and a key short-term support
  • SUP 2: 1.0402/0291 20-day EMA / Low Nov 30
  • SUP 3: 1.0227 50-day EMA
  • SUP 4: 1.0223 Low Nov 21

EURUSD has traded higher and in the process breached resistance at 1.0595, the Dec 5 high. The break higher confirms a resumption of the uptrend and also cancels the recent bearish candle pattern - a shooting star. The climb sets the scene for 1.0736 next, a Fibonacci projection. On the downside, key short-term support has been defined at 1.0443, Dec 7 low, where a break would signal a short-term top.

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.