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Starts The Week On A Firm Note

EURUSD TECHS
  • 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: 1.0737 High Mar 13
  • PRICE: 1.0728 @ 15:58 GMT Mar 13
  • SUP 1: 1.0640 Intraday low
  • 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 and this signals scope for a climb towards 1.0779 next, a Fibonacci retracement. Gains are considered corrective - for now. Support to watch is today’s intraday low of 1.0640 where a break is required to signal a top. This would refocus attention on 1.0525, the bear trigger.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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