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Resumes Its Uptrend

EURUSD TECHS
  • RES 4: 1.0851 High Apr 25, 2022
  • RES 3: 1.0846 2.0% 10-dma envelope
  • RES 2: 1.0787 High May 30 and a key resistance
  • RES 1: 1.0761 High Jan 9
  • PRICE: 1.0727 @ 15:18 GMT Jan 10
  • SUP 1: 1.0599 20-day EMA
  • SUP 2: 1.0486/84 3.0% Lower Bollinger Band / Low Jan 6
  • SUP 3: 1.0448 50-day EMA
  • SUP 4: 1.0394 Low Dec 1

A strong recovery extended Monday in EURUSD, confirming the end of the recent corrective pullback. The bull trigger at the Dec 15 high at 1.0735, has been cleared and this confirms a resumption of the uptrend. The break higher maintains the bullish price sequence of higher highs and higher lows and note that MA studies are in a bull-mode position. The focus is on 1.0787, the May 30, 2022 high. Key support has been defined at 1.0484, the Jan 6 low.

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