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EURUSD TECHS: Trend Condition Remains Bearish

EURUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.0825 High Nov 7 
  • RES 3: 1.0630 High Dec 06
  • RES 2: 1.0589 50-day EMA 
  • RES 1: 1.0467/0534 20-day EMA / High Dec 17 
  • PRICE: 1.0381 @ 16:02 GMT Dec 30
  • SUP 1: 1.0343 Low Dec 20
  • SUP 2: 1.0335 Low Nov 22 and the bear trigger
  • SUP 3: 1.0311 1.382 proj of the Sep 25 - Oct 23 - Nov 5 price swing 
  • SUP 4: 1.0258 1.500 proj of the Sep 25 - Oct 23 - Nov 5 price swing    

EURUSD traded lower into the Monday close, but the pair remains above its recent lows for now. A bearish condition highlights scope for a test of key support at 1.0335, the Nov 22 low and a bear trigger. Clearance of this level would confirm a resumption of downtrend and open 1.0311, a Fibonacci projection. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. Initial firm resistance is at 1.0467, the 20-day EMA.

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  • RES 4: 1.0825 High Nov 7 
  • RES 3: 1.0630 High Dec 06
  • RES 2: 1.0589 50-day EMA 
  • RES 1: 1.0467/0534 20-day EMA / High Dec 17 
  • PRICE: 1.0381 @ 16:02 GMT Dec 30
  • SUP 1: 1.0343 Low Dec 20
  • SUP 2: 1.0335 Low Nov 22 and the bear trigger
  • SUP 3: 1.0311 1.382 proj of the Sep 25 - Oct 23 - Nov 5 price swing 
  • SUP 4: 1.0258 1.500 proj of the Sep 25 - Oct 23 - Nov 5 price swing    

EURUSD traded lower into the Monday close, but the pair remains above its recent lows for now. A bearish condition highlights scope for a test of key support at 1.0335, the Nov 22 low and a bear trigger. Clearance of this level would confirm a resumption of downtrend and open 1.0311, a Fibonacci projection. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. Initial firm resistance is at 1.0467, the 20-day EMA.