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CEEMEA FX Price Signal Summary: USDTRY Eyeing 18.00


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CEEMEA FX Price Signal Summary: USDTRY Eyeing 18.00

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(M1) Still Looking For Weakness

  • RES 4: 172.12 High Apr 8
  • RES 3: 171.62 High Apr 14
  • RES 2: 171.26/27 50-day EMA / High Apr 22
  • RES 1: 170.98 High Apr 7
  • PRICE: 170.14 @ 05:13 BST May 11
  • SUP 1: 169.89 Low Apr 4
  • SUP 2: 169.47/24 Low Apr 3 / Low Feb 24 and major support
  • SUP 3: 168.96 0.618 proj of the Jan 27 - Feb 25 - Mar 25 price swing
  • SUP 4: 168.52 Low Mar 20, 2020 (cont)

Bund futures failed to hold onto st week's highs and despite recent gains a downtrend remains intact. The bearish phase that started Mar 25 has opened the key support at 169.24, Feb 25 low. Clearance of this level would confirm a resumption of the downtrend and open 169.00 and below. Initial resistance is seen at 170.98, Apr 7 high. The area around the 50-day EMA at 171.26 represents a key resistance.

MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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