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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: 1.0887 High Jan 18
  • PRICE: 1.0829 @ 15:54 GMT Jan 20
  • SUP 1: 1.0713 20-day EMA
  • SUP 2: 1.0634 Low Jan 9
  • SUP 3: 1.0545/1.0484 50-day EMA / Low Jan 6
  • SUP 4: 1.0410 3.0% Lower Bollinger Band

EURUSD continues to consolidate closer to its recent highs. The trend outlook remains bullish. The recent break of 1.0787, May 30 2022 high, reinforces bullish conditions and maintains the positive price sequence of higher highs and higher lows. Moving average studies continue to highlight a bullish backdrop. The focus is on 1.0913, a Fibonacci projection. Initial firm support is at 1.0713, the 20-day EMA.

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