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Remains Vulnerable

EURUSD TECHS
  • RES 4: 1.0198/0249 High Sep 12 / 76.4% of Aug 10 - Sep 6 downleg
  • RES 3: 1.0069 Bear channel top drawn from the Feb 10 high
  • RES 2: 0.9985 20-day EMA
  • RES 1: 0.9945 Low Sep 16
  • PRICE: 0.9826 @ 05:55 BST Sep 23
  • SUP 1: 0.9800 Round number support
  • SUP 2: 0.9785 2.00 projection of the Jun 9 - 15 - 27 price swing
  • SUP 3: 0.9694 1.00 projection of the Aug 10 - Sep 6 - 12 price swing
  • SUP 4: 0.9613 Low Sep 2002

EURUSD remains vulnerable and is trading at its recent lows. The break lower this week confirmed a resumption of the primary downtrend - support at 0.9864, Sep 6 low, has been cleared. The move lower maintains the bearish price sequence of lower lows and lower highs. Price is also trending lower inside the bear channel drawn from the Feb 10 high. The focus is on 0.9694, a Fibonacci projection. Resistance is seen at 0.9945, the Sep 16 low.

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