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EURUSD TECHS: Resistance At The 50-Day EMA Remains Intact For Now

EURUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.0630 High Dec 06
  • RES 3: 1.0574 38.2% retracement of the Sep 25 - Jan 13 bear leg 
  • RES 2: 1.0513 High Dec 18
  • RES 1: 1.0458 50-day EMA
  • PRICE: 1.0407 @ 06:01 GMT Jan 23
  • SUP 1: 1.0260/0178 Low Jan 15 / 13 and the bear trigger   
  • SUP 2: 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing
  • SUP 3: 1.0115 2.0% 10-dma envelope
  • SUP 4: 1.0031 2.000 proj of the Sep 25 - Oct 23 - Nov 5 price swing    

EURUSD remains in a short-term bull cycle - a correction. The pair has recently breached the 20-day EMA and traded through trendline resistance at 1.0373, drawn from the Sep 30 ‘24 high. The move higher has exposed the 50-day EMA at 1.0458. Clearance of this average would strengthen a bullish condition. Key support and the bear trigger is at 1.0178, the Jan 13 low. The medium-term trend condition remains bearish.

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  • RES 4: 1.0630 High Dec 06
  • RES 3: 1.0574 38.2% retracement of the Sep 25 - Jan 13 bear leg 
  • RES 2: 1.0513 High Dec 18
  • RES 1: 1.0458 50-day EMA
  • PRICE: 1.0407 @ 06:01 GMT Jan 23
  • SUP 1: 1.0260/0178 Low Jan 15 / 13 and the bear trigger   
  • SUP 2: 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing
  • SUP 3: 1.0115 2.0% 10-dma envelope
  • SUP 4: 1.0031 2.000 proj of the Sep 25 - Oct 23 - Nov 5 price swing    

EURUSD remains in a short-term bull cycle - a correction. The pair has recently breached the 20-day EMA and traded through trendline resistance at 1.0373, drawn from the Sep 30 ‘24 high. The move higher has exposed the 50-day EMA at 1.0458. Clearance of this average would strengthen a bullish condition. Key support and the bear trigger is at 1.0178, the Jan 13 low. The medium-term trend condition remains bearish.