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Price Signal Summary - Bear Flag In EURUSD

OUTLOOK
  • In FX,EURUSD is consolidating and recent activity appears to be a bear flag. Resistance is at 1.0658, the 50-day EMA. The average was pierced last week, however, a clear break is required to suggest scope for a stronger recovery. This would open 1.0803, the Feb 14 high and a key short-term level. For now, short-term gains are considered corrective. Support to watch is 1.0533, the Feb 27 low. A break would resume the bear cycle.
  • The GBPUSD trend condition is bearish and nearby resistance remains intact. Support to watch is 1.1915, the Feb 17 low. A break would confirm a resumption of the bear leg and expose key support at 1.1842, the Jan 6 low. Clearance of this key price point would highlight a broader medium-term reversal threat and a potential double top on the daily chart. Key short-term resistance is 1.2147, the Feb 21 high.
  • The {JN} USDJPY trend outlook remains bullish and the pair is holding on to the bulk of its recent gains. Last week, the price pierced 136.67, 38.2% of the downleg between Oct 21 and Jan 16. A clear break of this hurdle would set the scene for a climb towards 138.17, the Dec 15 high. On the downside, the support to watch lies at 133.81, the 50-day EMA. A clear break of this average is required to signal a possible reversal.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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