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Remains Heavy

EURUSD TECHS
  • RES 4: 1.1909 High Jul 30 / Sep 03 and a key resistance
  • RES 3: 1.1805/46 1.0% 10-dma envelope / High Sep 14
  • RES 2: 1.1755/79 High Sep 22 / 50-day EMA
  • RES 1: 1.1664/1723 Low Aug 20 / 20-day EMA
  • PRICE: 1.1579 @ 06:09 BST Oct 1
  • SUP 1: 1.1563 Low Sep 30 and Intraday low
  • SUP 2: 1.1493 50.0% retracement of the Mar '20 - Jan '21 bull phase
  • SUP 3: 1.1469 1.236 proj of the Jan 6 - Mar 31 - May 25 price swing
  • SUP 4: 1.1371 Low Jul 16

EURUSD remains bearish and traded lower Thursday, extending losses following this week's break of key support at 1.1664, Aug 20 low, The break lower confirms a resumption of the broader downtrend that has been in place since May 25 and maintains a bearish price sequence of lower lows and lower highs. The focus is on 1.1493 next, a Fibonacci retracement. Firm resistance is at 1.1755, Sep 22 high.

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