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Moving Average Studies Highlight An Uptrend

EURUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.0981 High Mar 8 and a key resistance
  • RES 3: 1.0964 High Mar 13
  • RES 2: 1.0933 61.8% retracement of the Dec 28 - Apr 16 bear leg
  • RES 1: 1.0895 High May 16
  • PRICE: 1.0811 @ 19:28 BST May 29
  • SUP 1: 1.0805 Low May 23
  • SUP 2: 1.0796 50-day EMA and a key near-term support
  • SUP 3: 1.0724 Low May 3
  • SUP 4: 1.0650 Low May 1

Recent weakness in EURUSD appears to be a correction. The current trend condition is unchanged and remains bullish following a bear channel breakout on May 15 - price cleared the top of a channel drawn from the Dec 28 high. Moving average studies have crossed and are in a bull-mode position, highlighting a rising trend. Sights are on 1.0933 next, a Fibonacci retracement. Initial firm support to watch lies at 1.0796, the 50-day EMA.

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  • RES 4: 1.0981 High Mar 8 and a key resistance
  • RES 3: 1.0964 High Mar 13
  • RES 2: 1.0933 61.8% retracement of the Dec 28 - Apr 16 bear leg
  • RES 1: 1.0895 High May 16
  • PRICE: 1.0811 @ 19:28 BST May 29
  • SUP 1: 1.0805 Low May 23
  • SUP 2: 1.0796 50-day EMA and a key near-term support
  • SUP 3: 1.0724 Low May 3
  • SUP 4: 1.0650 Low May 1

Recent weakness in EURUSD appears to be a correction. The current trend condition is unchanged and remains bullish following a bear channel breakout on May 15 - price cleared the top of a channel drawn from the Dec 28 high. Moving average studies have crossed and are in a bull-mode position, highlighting a rising trend. Sights are on 1.0933 next, a Fibonacci retracement. Initial firm support to watch lies at 1.0796, the 50-day EMA.