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Trading Closer To Recent Highs

EURUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.0981 High Mar 8 and a key resistance
  • RES 3: 1.0964 High Mar 13
  • RES 2: 1.0933 61.8% retracement of the Dec 28 - Apr 16 bear leg
  • RES 1: 1.0895 High May 16
  • PRICE: 1.0871 @ 16:27 BST May 17
  • SUP 1: 1.0826 Former channel top drawn from the Dec 28 high
  • SUP 2: 1.0777 50-day EMA and a key near-term support
  • SUP 3: 1.0724 Low May 3
  • SUP 4: 1.0650 Low May 1

EURUSD rallied Wednesday and the pair remains closer to this week’s highs. The climb confirms once again an extension of the bull leg that started Apr 16. The move higher also highlights a clear bear channel breakout - price is through the top at 1.0826. The channel is drawn from the Dec 28 high. Sights are on 1.0933 next, a Fibonacci retracement. Initial firm support lies at 1.0777, the 50-day EMA.

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  • RES 4: 1.0981 High Mar 8 and a key resistance
  • RES 3: 1.0964 High Mar 13
  • RES 2: 1.0933 61.8% retracement of the Dec 28 - Apr 16 bear leg
  • RES 1: 1.0895 High May 16
  • PRICE: 1.0871 @ 16:27 BST May 17
  • SUP 1: 1.0826 Former channel top drawn from the Dec 28 high
  • SUP 2: 1.0777 50-day EMA and a key near-term support
  • SUP 3: 1.0724 Low May 3
  • SUP 4: 1.0650 Low May 1

EURUSD rallied Wednesday and the pair remains closer to this week’s highs. The climb confirms once again an extension of the bull leg that started Apr 16. The move higher also highlights a clear bear channel breakout - price is through the top at 1.0826. The channel is drawn from the Dec 28 high. Sights are on 1.0933 next, a Fibonacci retracement. Initial firm support lies at 1.0777, the 50-day EMA.