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Gives Back Friday’s Gains

EURUSD TECHS
  • RES 4: 1.1608 High Nov 9
  • RES 3: 1.1514 Low Nov 5
  • RES 2: 1.1447 Bear channel top drawn from the Jun 1 high
  • RES 1: 1.1383/86 High Nov 30 / High Dec 31
  • PRICE: 1.1332 @ 17:11 GMT Jan 10
  • SUP 1: 1.1272/22 Low Jan 04 / Low Dec 15
  • SUP 2: 1.1186/85 Low Nov 24 / Low Jul 1, 2020 and the bear trigger
  • SUP 3: 1.1128 1.764 proj of the Jan 6 - Mar 31 - May 25 price swing
  • SUP 4: 1.1040 76.4% retracement of the Mar ‘20 - Jan ‘21 uptrend

EURUSD started the week on a softer note and retraced Friday’s gains. The pair remains inside its range and below key resistance at 1.1383/86, the Nov 30 and Dec 31 highs. The broader trend is bearish and the MA set-up reinforces this theme. An extension lower would open 1.1272/22, the Jan 04 and Dec 15 lows ahead of the bear trigger at 1.1186/85. For bulls, clearance of 1.13783/86 would suggest scope for a stronger recovery.

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

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