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Holding On To Friday’s Gains

EURUSD TECHS
  • RES 4: 1.0273 1.382 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 3: 1.0198 High Sep 12 and a key resistance
  • RES 2: 1.0094 High Oct 27 and a bull trigger
  • RES 1: 1.0007 High Nov 7
  • PRICE: 0.9990 @ 16:11 GMT Nov 07
  • SUP 1: 0.9868/9730 20-day EMA / Low Nov 3
  • SUP 2: 0.9705 Low Oct 21
  • SUP 3: 0.9633 Low Oct 13 and a key support
  • SUP 4: 0.9536 Low Sep 28 and the bear trigger

EURUSD rebounded Friday and is holding on to its most recent gains. The pair has, for now at least, defined support at 0.9730, Thursday’s low. Initial firm resistance is seen at 0.9976, the Nov 3 high where a break would ease the recent bearish threat and signal scope for an extension higher towards key resistance at 1.0094, the Oct 27 high. On the downside, a reversal lower and a move through 0.9730 would be seen as a bearish development.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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