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EURUSD TECHS: Monitoring Resistance At The 50-Day EMA

EURUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.0630 High Dec 06
  • RES 3: 1.0574 38.2% retracement of the Sep 25 - Jan 13 bear leg 
  • RES 2: 1.0513 High Dec 18
  • RES 1: 1.0456 50-day EMA
  • PRICE: 1.0453 @ 06:07 GMT Jan 24
  • SUP 1: 1.0342 Low Jan 21  
  • SUP 2: 1.0260/0178 Low Jan 15 / 13 and the bear trigger 
  • SUP 3: 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing 
  • SUP 4: 1.0126 2.0% 10-dma envelope   

EURUSD remains in a short-term bull cycle - a correction - and the pair is holding on to its recent gains. Price has breached the 20-day EMA and a trendline resistance drawn from the Sep 30 ‘24 high. The move higher has exposed the 50-day EMA at 1.0456. Clearance of this average would strengthen a bullish condition. Key support and the bear trigger is at 1.0178, the Jan 13 low. The medium-term trend condition remains bearish.

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  • RES 4: 1.0630 High Dec 06
  • RES 3: 1.0574 38.2% retracement of the Sep 25 - Jan 13 bear leg 
  • RES 2: 1.0513 High Dec 18
  • RES 1: 1.0456 50-day EMA
  • PRICE: 1.0453 @ 06:07 GMT Jan 24
  • SUP 1: 1.0342 Low Jan 21  
  • SUP 2: 1.0260/0178 Low Jan 15 / 13 and the bear trigger 
  • SUP 3: 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing 
  • SUP 4: 1.0126 2.0% 10-dma envelope   

EURUSD remains in a short-term bull cycle - a correction - and the pair is holding on to its recent gains. Price has breached the 20-day EMA and a trendline resistance drawn from the Sep 30 ‘24 high. The move higher has exposed the 50-day EMA at 1.0456. Clearance of this average would strengthen a bullish condition. Key support and the bear trigger is at 1.0178, the Jan 13 low. The medium-term trend condition remains bearish.