Free Trial

Recovering From Monday’s Low

  • RES 4: 1.0615 High Jun 27
  • RES 3: 1.0559 1.764 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 2: 1.0536 High Jun 29
  • RES 1: 1.0396/0479 High Nov 18 / 15 and the bull trigger
  • PRICE: 1.0326 @ 05:44 GMT Nov 23
  • SUP 1: 1.0198/0152 High Sep 12 / 20-day EMA
  • SUP 2: 1.0094 High Oct 27 and a key near-term resistance
  • SUP 3: 1.0045 50-day EMA
  • SUP 4: 0.9936 Low Nov 11

EURUSD is attempting a recovery from Monday’s low of 1.0223. The recent pullback appears to be a correction as a recent overbought condition in the bull cycle unwinds. The next firm support to watch lies at 1.0198, the Sep 12 high. On the upside, a stronger resumption of gains would refocus attention on 1.0479, the Nov 15 high, where a break would mark the end of the correction and confirm a resumption of recent gains.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.