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Trading Above Support At The 20-Day EMA

EURUSD TECHS
  • RES 4: 1.1185 High Mar 31 2022
  • RES 3: 1.1127 1.00 projection of the Mar 15 - 23 - 24 price swing
  • RES 2: 1.1076 High Apr 1 2022 and high Apr 14
  • RES 1: 1.1000 High Apr 17
  • PRICE: 1.0981 @ 05:47 BST Apr 24
  • SUP 1: 1.0913 20-day EMA
  • SUP 2: 1.0831 Low Apr 10
  • SUP 3: 1.0817 50-day EMA
  • SUP 4: 1.0788 Low Apr 3

EURUSD trend signals remain bullish and recent weakness appears to be a correction. Price is trading above 1.0913, the 20-day EMA and moving average studies are in a bull mode position, highlighting an uptrend. The bull trigger is unchanged at 1.1076, Apr 14 high, a break would open 1.1127, a Fibonacci projection and 1.1185, Mar 31 2022 high. On the downside, clearance of the 20-day EMA would signal scope for a deeper retracement.

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