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SILVER TECHS

Bullish Price Structure Intact

GERMAN DATA

German Mar Factory Orders Beat Expectations

GOLD TECHS

Bullish Focus

WTI TECHS

(M1) Needle Still Points North

BRENT TECHS

(N1) Approaching $70.00

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  • RES 4: 1.2243 High Feb 25 and a key resistance
  • RES 3: 1.2184 High Feb 26
  • RES 2: 1.2150 High Apr 29
  • RES 1: 1.2085 61.8% of Friday's range
  • PRICE: 1.2022@ 06:02 BST May 5
  • SUP 1: 1.2014/1988 20- and 50-day EMAs
  • SUP 2: 1.1943 Low Apr 19
  • SUP 3: 1.1861 Low Apr 7 and 8
  • SUP 4: 1.1795 Low Apr 6

EURUSD, maintains a bearish tone and traded lower yesterday. A bearish theme follows the sharp Apr 30 sell-off. This highlights a failed attempt to confirm a clear break of a bear channel top drawn off the Jan 6 high. Key resistance has been defined at 1.2150, Apr 29 high. A firm support is at 1.2014/1988, the 20 and 50-day EMAs. A breach of this zone would trigger a stronger sell-off. Clearance of 1.2150 is needed to reinstate the uptrend.