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Resumes Its Uptrend

EURUSD TECHS
  • RES 4: 1.1054 High Apr 4 2022
  • RES 3: 1.1022 3.00 proj of the Sep 28 - Oct 4 - Oct 13 price swing
  • RES 2: 1.0954 High Apr 11, 2022
  • RES 1: 1.0913 2.764 proj of the Sep 28 - Oct 4 - Oct 13 price swing
  • PRICE: 1.0897 @ 05:38 GMT Jan 23
  • SUP 1: 1.0767/26 Low Jan 18 / 20-day EMA
  • SUP 2: 1.0634 Low Jan 9
  • SUP 3: 1.0557/1.0484 50-day EMA / Low Jan 6
  • SUP 4: 1.0411 3.0% Lower Bollinger Band

EURUSD is trading higher today and has breached last week’s high to confirm a resumption of the primary uptrend. The trend extension maintains the bullish price sequence of higher highs and higher lows and moving average studies continue to highlight bullish market sentiment. The focus is on 1.0913, a Fibonacci projection. Initial firm support is at 1.0726, the 20-day EMA. Any near-term weakness would be considered corrective.

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