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Trend Needle Points North

EURUSD TECHS
  • RES 4: 1.0615 High Jun 27
  • RES 3: 1.0559 1.764 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 2: 1.0536 High Jun 29
  • RES 1: 1.0479 High Nov 15
  • PRICE: 1.0371 @ 05:42 GMT Nov 16
  • SUP 1: 1.0272/0163 Low Nov 14 / 11
  • SUP 2: 1.0094 High Oct 27 and a key near-term resistance
  • SUP 3: 0.9936 Low Nov 10
  • SUP 4: 0.9836 Trendline support drawn from the Sep 28 low

EURUSD bullish conditions remain intact and the pair traded higher Tuesday. Recent gains have confirmed a positive price sequence of higher highs and higher lows on the daily chart - the definition of an uptrend. Note too that moving average studies have crossed to highlight a bull mode set-up. Resistance at 1.0368, the Aug 10 high, has been breached. This opens 1.0536, the late June high. Initial firm support lies at 1.0094 the Oct 27 high.

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  • RES 4: 1.0615 High Jun 27
  • RES 3: 1.0559 1.764 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 2: 1.0536 High Jun 29
  • RES 1: 1.0479 High Nov 15
  • PRICE: 1.0371 @ 05:42 GMT Nov 16
  • SUP 1: 1.0272/0163 Low Nov 14 / 11
  • SUP 2: 1.0094 High Oct 27 and a key near-term resistance
  • SUP 3: 0.9936 Low Nov 10
  • SUP 4: 0.9836 Trendline support drawn from the Sep 28 low

EURUSD bullish conditions remain intact and the pair traded higher Tuesday. Recent gains have confirmed a positive price sequence of higher highs and higher lows on the daily chart - the definition of an uptrend. Note too that moving average studies have crossed to highlight a bull mode set-up. Resistance at 1.0368, the Aug 10 high, has been breached. This opens 1.0536, the late June high. Initial firm support lies at 1.0094 the Oct 27 high.