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Resumes Its Uptrend

EURUSD TECHS
  • 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: 1.0450 1.764 proj of the Sep 28 - Oct 4 - 13 price swing
  • PRICE: 1.0406 @ 08:17 GMT Nov 15
  • SUP 1: 1.0163 Low Nov 11
  • SUP 2: 1.0094 High Oct 27 and a key near-term resistance
  • SUP 3: 0.9936 Low Nov 10
  • SUP 4: 0.9836 Trendline support drawn from the Sep 28 low

EURUSD bullish conditions remain intact and the pair is trading higher. Recent gains have confirmed a positive price sequence of higher highs and higher lows on the daily chart and moving average studies have crossed to highlight a potential bull mode set-up. Resistance at 1.0368, the Aug 10 high, has been cleared. This opens 1.0450, a Fibonacci projection. Initial firm support lies at 1.0094, the Oct 27 high.

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