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Secures Next Leg Higher

EURUSD TECHS
  • RES 4: 1.2174 2.0% 10-dma envelope
  • RES 3: 1.2084 High May 1, 2018
  • RES 2: 1.2065 3% Upper Bollinger Band
  • RES 1: 1.2054 High Dec 1
  • PRICE: 1.2039 @ 16:48 GMT Dec 1
  • SUP 1: 1.1885 Low Nov 26
  • SUP 2: 1.1805/00 50-day EMA / Low Nov 23
  • SUP 3: 1.1746 Low Nov 11 and key near-term support
  • SUP 4: 1.1711 Low Nov 5

EURUSD traded strongly Tuedsay, rallying firstly through the Monday high as well as the best levels of 2020. This cements the bullish outlook and confirms a resumption of the uptrend that has dominated since March. Key upside targets now shift higher to 1.2084, the May 1st 2018 high. On the downside, key trend support remains 1.1746, Nov 11 low. A break would reverse the recent direction and expose 1.1603, Nov 4 low.

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