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Still Trading Below Last Week’s Low

EURUSD TECHS
  • RES 4: 1.2011 High Sep 1 and the bull trigger
  • RES 3: 1.1984 3.0% Upper Bollinger Band
  • RES 2: 1.1920 High Nov 9
  • RES 1: 1.1869 High Nov 16
  • PRICE: 1.1840 @ 16:14 GMT Nov 16
  • SUP 1: 1.1746 Low Nov 11
  • SUP 2: 1.1711 Low Nov 5 and key intraday support
  • SUP 3: 1.1678 76.4% retracement of the Nov 4 - 9 rally
  • SUP 4: 1.1603 Low Nov 4 and the bear trigger

EURUSD remains below the Nov 9 high but has continued to extend the recovery from the Nov 11 low of 1.1746. The move lower between Nov 9 - 11 is considered a correction and a bullish tone remains intact following the recent breach of 1.1881, Oct 21 high. The break higher opens 1.2011, Sep 1 high with the immediate bull trigger at 1.1920, Nov 9 high. On the downside, initial firm support is at 1.1746.

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