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Trend Needle Points North

EURUSD TECHS
  • RES 4: 1.1276 High Jul 18 and a key resistance
  • RES 3: 1.1229 High Jul 20
  • RES 2: 1.1150 High Jul 27
  • RES 1: 1.1139 High Dec 28
  • PRICE: 1.1075 @ 15:18 GMT Dec 29
  • SUP 1: 1.1017 High Nov 29 and a recent breakout level
  • SUP 2: 1.0950/1.0859 20- and 50-day EMA values
  • SUP 3: 1.0724 Low Dec 8 and the bear trigger
  • SUP 4: 1.0693 Low Nov 14

EURUSD maintains a positive tone - this week’s gains reinforce bullish conditions and pullbacks are considered corrective. Price has recently traded through key resistance at 1.1017, Nov 29 high and a bull trigger, as well as 1.1081, 76.4% of the Jul - Oct bear leg. This opens 1.1229, the Jul 20 high. Moving average studies are in a bull-mode set-up too, highlighting positive market sentiment. Initial firm support is seen at 1.0950, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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