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Golden Cross

EURUSD TECHS
  • RES 4: 1.1276 High Jul 18 and a key resistance
  • RES 3: 1.1229 High Jul 20
  • RES 2: 1.1150 High Jul 27
  • RES 1: 1.1139 High Dec 28
  • PRICE: 1.0945 @ 14:56 GMT Jan 04
  • SUP 1: 1.0893 Low Jan 03
  • SUP 2: 1.0880 50-day EMA
  • SUP 3: 1.0724 Low Dec 8 and the bear trigger
  • SUP 4: 1.0693 Low Nov 14

Near-term EUR/USD weakness persisted through the Wednesday close before prices stabilised somewhat across Thursday trade. For now, the pullback off the week’s high looks corrective in nature, with prices holding within the uptrend channel drawn off the October low. This keeps 1.0878 as the key support. The medium-term view remains positive, supported by the formation of a golden cross in DMA space (50- rising above the 200-dma), highlighting positive underlying market sentiment.

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