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Remains Above Thursday’s Low

EURUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.0981 High Mar 8 and a key resistance
  • RES 3: 1.0964 High Mar 13
  • RES 2: 1.0933 61.8% retracement of the Dec 28 - Apr 16 bear leg
  • RES 1: 1.0860/95 High May 29 / 16 and the bull trigger
  • PRICE: 1.0817 @ 05:45 BST May 31
  • SUP 1: 1.0783 38.2% retracement of the Apr 16 - May 16 rally
  • SUP 2: 1.0766 Low May 13
  • SUP 3: 1.0748 50.0% retracement of the Apr 16 - May 16 rally
  • SUP 4: 1.0713 61.8% retracement of the Apr 16 - May 16 rally

EURUSD remains above Thursday’s low of 1.0788. Recent weakness appears to be a correction and potentially a bull flag formation. A recent bear channel breakout, drawn from the Dec 28 high, and a bullish set-up in moving average studies, highlight an uptrend. A resumption of gains would open 1.0933 next, a Fibonacci retracement. Support to watch is at 1.0783, a Fibonacci retracement.

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  • RES 4: 1.0981 High Mar 8 and a key resistance
  • RES 3: 1.0964 High Mar 13
  • RES 2: 1.0933 61.8% retracement of the Dec 28 - Apr 16 bear leg
  • RES 1: 1.0860/95 High May 29 / 16 and the bull trigger
  • PRICE: 1.0817 @ 05:45 BST May 31
  • SUP 1: 1.0783 38.2% retracement of the Apr 16 - May 16 rally
  • SUP 2: 1.0766 Low May 13
  • SUP 3: 1.0748 50.0% retracement of the Apr 16 - May 16 rally
  • SUP 4: 1.0713 61.8% retracement of the Apr 16 - May 16 rally

EURUSD remains above Thursday’s low of 1.0788. Recent weakness appears to be a correction and potentially a bull flag formation. A recent bear channel breakout, drawn from the Dec 28 high, and a bullish set-up in moving average studies, highlight an uptrend. A resumption of gains would open 1.0933 next, a Fibonacci retracement. Support to watch is at 1.0783, a Fibonacci retracement.