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Shallow Correction

EURUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • 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: 1.0929 High Jan 26
  • PRICE: 1.0860 @ 16:40 GMT Jan 27
  • SUP 1: 1.0781/0767 20-day EMA / Low Jan 18
  • SUP 2: 1.0634 Low Jan 9
  • SUP 3: 1.0607/1.0484 50-day EMA / Low Jan 6
  • SUP 4: 1.0423 3.0% Lower Bollinger Band

EURUSD bulls remain in the driver’s seat and the latest move lower appears to be a shallow correction. Key short-term support levels remain intact and note that moving average studies continue to highlight positive market sentiment. The next objective is 1.0954, the Apr 11 2022 high. The 20-day EMA marks initial firm support - it intersects at 1.0781. A break of the average would signal the start of a correction.

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  • 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: 1.0929 High Jan 26
  • PRICE: 1.0860 @ 16:40 GMT Jan 27
  • SUP 1: 1.0781/0767 20-day EMA / Low Jan 18
  • SUP 2: 1.0634 Low Jan 9
  • SUP 3: 1.0607/1.0484 50-day EMA / Low Jan 6
  • SUP 4: 1.0423 3.0% Lower Bollinger Band

EURUSD bulls remain in the driver’s seat and the latest move lower appears to be a shallow correction. Key short-term support levels remain intact and note that moving average studies continue to highlight positive market sentiment. The next objective is 1.0954, the Apr 11 2022 high. The 20-day EMA marks initial firm support - it intersects at 1.0781. A break of the average would signal the start of a correction.