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Free AccessSupport Lies At The 50-Day EMA
- RES 4: 1.1084 High Dec 29
- RES 3: 1.1034 76.4% retracement of the Dec 28 - Feb 14 bear leg
- RES 2: 1.0998 High Jan 5
- RES 1: 1.055/981 High Mar 14 / 8 and the bull trigger
- PRICE: 1.0872 @ 16:44 GMT Mar 18
- SUP 1: 1.0859 50-day EMA
- SUP 2: 1.0796 Low Feb 29
- SUP 3: 1.0762/0695 Low Feb 20 / 14 and the bear trigger
- SUP 4: 1.0656 Low Nov 10
A bull theme in EURUSD remains intact and last week’s move lower is considered corrective - for now. Support to watch is at the 50-day EMA, at 1.0859. A clear break of this average would threaten the bullish theme and signal scope for a deeper retracement, towards 1.0796, the Feb 29 low. For bulls, a resumption of gains and a break of 1.0981, the Mar 8 high, would resume the uptrend and open 1.0998, the Jan 5 high.
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Why MNI
MNI is the leading provider
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.