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Sights Are On The Bear Trigger

EURUSD TECHS
  • RES 4: 1.1244 3.0% Upper Bollinger Band
  • RES 3: 1.1185/1222 High Mar 31 / 61.8% of Feb 10 - Mar 7 sell-off
  • RES 2: 1.1081 50-day EMA
  • RES 1: 1.0970 20-day EMA
  • PRICE: 1.0831 @ 06:12 BST Apr 13
  • SUP 1: 1.0806 Low Mar 7 and the bear trigger
  • SUP 2: 1.0767 Low May 7 2020
  • SUP 3: 1.0727 Low Apr 24, 2020
  • SUP 4: 1.0659 0.764 proj of the Feb 10 - Mar 7 - 31 price swing

EURUSD is inching towards key support and the bear trigger at 1.0806, the Mar 7 low. The pair remains bearish. The recent failure at 1.1185, Mar 31 high, continues to highlight a bearish threat and last week’s move lower has reinforced this theme. A break of 1.0806 would confirm a resumption of the downtrend and open 1.0767, the May 7 2020 low. Clearance of 1.1185 is needed to highlight a base and reinstate a bull theme.

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