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Free AccessShort-Term Bull Cycle Still In Play
- RES 4: 1.0839 50.0% retracement of the Feb 2 - Mar 8 bear leg
- RES 3: 1.0803 High Feb 14 and key resistance
- RES 2: 1.0779 50.0% retracement of the Feb 2 - Mar 8 bear leg
- RES 1: 1.0749 High Mar 13
- PRICE: 1.0701 @ 05:22 GMT Mar 14
- SUP 1: 1.0640 Low Mar 13
- SUP 2: 1.0574 Low Mar 10
- SUP 3: 1.0525 Low Mar 8 and the bear trigger
- SUP 4: 1.0484 Low Jan 6 and a key support
EUR/USD traded higher Monday, extending last week’s recovery from 1.0525, the Mar 8 low. Resistance at 1.0694 has been cleared, the Mar 6 / 7 high. This has strengthened a short-term bull theme and opened 1.0779 next, a Fibonacci retracement. Gains are considered corrective - for now. Support to watch is yesterday’s intraday low of 1.0640 where a break would signal a top. A move lower would refocus attention on 1.0525, the bear trigger.
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Why MNI
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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.