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Price Signal Summary - EURUSD Fails To Clear Key Short-Term Resistance

OUTLOOK
  • In FX, EURUSD is trading lower today. The pair has so far failed to clear resistance at 1.0094, the Oct 27 high. This is a key short-term hurdle where a break would strengthen bullish conditions and open 1.0198, the Sep 12 high. Initial support to watch is at 0.9926, the 50-day EMA. A break would expose 0.9730, the Nov 3 low.
  • Recent price action in GBPUSD highlights two important short-term directional triggers. Resistance is at 1.1645, the Oct 27 high and is seen as a bull trigger while 1.1150, the Nov 4 low, marks the key short-term support. A break of 1.1150 would reinstate a bearish theme. The outlook is bullish and a breach of 1.1645 would reinforce this theme. This would open 1.1799, 0.764 projection of the Sep 26 - Oct 5 - 12 price swing.
  • USDJPY still appears vulnerable and continues to trade below resistance at 149.71, the Oct 24 high. Attention is on the 50-day EMA at 144.91 - a key support. Clearance of this EMA would signal scope for a deeper pullback. On the upside, a break of 149.71 would be seen as a bullish development and this would expose the bull trigger at 151.95, Oct 21 high.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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