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EURO-DOLLAR TECHS
  • RES 4: 1.2000 Psychological round number
  • RES 3: 1.1982 3.0% 10-dma envelope
  • RES 2: 1.1978 1.236 proj of May 7 - Jun 10 rally from Jun 19 low
  • RES 1: 1.1909 Jul 31 high
  • PRICE: 1.1759 @ 07:26 BST Aug 3
  • SUP 1: 1.1731 Low Jul 30
  • SUP 2: 1.1699 Low Jul 28
  • SUP 3: 1.1639/1581 Low Jul 27 / Low Jul 24
  • SUP 4: 1.1534 20-day EMA

EURUSD has pulled well off the Friday Asia highs and that pattern extended early Monday. A bullish theme, however, remains intact and follows the breach of 1.1495, Mar 9 high on Jul 21. Bulls haven't looked back since as the trend maintains its impulsive tone. The focus is on 1.1978, a Fibonacci projection and the psychological 1.2000 handle. Note, conditions are overbought but for now this is not restricting gains. Support is at 1.1731. Jul 30 low.

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