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Trading Closer To Its Recent Lows

EURUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.1005 High Aug 11
  • RES 3: 1.0945 High Aug 30 and reversal trigger
  • RES 2: 1.0798/0846 High Sep 5 / 50-day EMA
  • RES 1: 1.0766 20-day EMA
  • PRICE: 1.0680 @ 05:53 BST Sep 19
  • SUP 1: 1.0611 38.2% Fibonacci retracement Sep’22 - Jul’23 upleg
  • SUP 2: 1.00551 Low Mar 16
  • SUP 3: 1.0516 Low Mar 15 and a key support
  • SUP 4: 1.0484 Low Jan 6

EURUSD conditions remain bearish and the pair is trading closer to its recent lows. The recent breach of 1.0686, the Sep 7 low, confirms a resumption of the downtrend and maintains the bearish sequence of lower lows and lower highs. Note too that moving average studies are in a bear mode position, highlighting the market's current sentiment. Sights are on 1.0611, a Fibonacci retracement. Initial firm resistance is 1.0766, the 20-day EMA.

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  • RES 4: 1.1005 High Aug 11
  • RES 3: 1.0945 High Aug 30 and reversal trigger
  • RES 2: 1.0798/0846 High Sep 5 / 50-day EMA
  • RES 1: 1.0766 20-day EMA
  • PRICE: 1.0680 @ 05:53 BST Sep 19
  • SUP 1: 1.0611 38.2% Fibonacci retracement Sep’22 - Jul’23 upleg
  • SUP 2: 1.00551 Low Mar 16
  • SUP 3: 1.0516 Low Mar 15 and a key support
  • SUP 4: 1.0484 Low Jan 6

EURUSD conditions remain bearish and the pair is trading closer to its recent lows. The recent breach of 1.0686, the Sep 7 low, confirms a resumption of the downtrend and maintains the bearish sequence of lower lows and lower highs. Note too that moving average studies are in a bear mode position, highlighting the market's current sentiment. Sights are on 1.0611, a Fibonacci retracement. Initial firm resistance is 1.0766, the 20-day EMA.