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Price Signal Summary - EURUSD Remains Below Key Short-Term Resistance

OUTLOOK
  • In FX, EURUSD has recovered from Wednesday’s low. Attention is on the Dec 5 high print of 1.0595. A break would confirm a resumption of the uptrend and open 1.0615, the Jun 27 high. Note that while price remains below 1.0595, a bear candle on Monday - shooting star - continues to highlight a possible short-term bearish threat. A reversal lower would open 1.0371, the 20-day EMA.
  • GBPUSD trend conditions remain bullish and the latest pullback appears to be a correction. The pair has recently cleared the 200-dma and price maintains a bullish sequence of higher highs and higher lows. A resumption of gains would open 1.2406, the Jun 16 high. Initial support is at 1.2002, the 20-day EMA.
  • USDJPY has pulled back from Wednesday’s high, however, the pair remains in a bullish corrective cycle - for now - following the recovery from 133.63, the Dec 2 low. This phase is allowing an oversold condition to unwind. An extension higher would open 138.92, the 20-day EMA. On the downside, the bear trigger is unchanged at 133.63. A break would resume the downtrend.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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