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Trend Needle Points North

EURUSD TECHS
  • RES 4: 1.1022 3.00 proj of the Sep 28 - Oct 4 - Oct 13 price swing
  • RES 3: 1.0954 High Apr 11, 2022
  • RES 2: 1.0913 2.764 proj of the Sep 28 - Oct 4 - Oct 13 price swing
  • RES 1: 1.0874 High Jan 16
  • PRICE: 1.0824 @ 15:53 GMT Jan 16
  • SUP 1: 1.0665 20-day EMA
  • SUP 2: 1.0486/84 50-day EMA / Low Jan 6
  • SUP 3: 1.0422 3.0% Lower Bollinger Band
  • SUP 4: 1.0394 Low Dec 1

EURUSD trend conditions remain bullish and the pair is trading at its recent highs. Last week’s gains resulted in a break of 1.0787, the May 30 2022 high and a key resistance. The breach reinforces the bullish theme. Note too that moving average studies continue to highlight a bullish backdrop. The climb opens 1.0913 next, a Fibonacci projection. Key support has been defined at 1.0484, the Jan 6 low. Initial firm support lies at 1.0665, the 20-day EMA.

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