Free Trial

Trend Signals Remain Bearish

EURUSD TECHS
  • RES 4: 1.1076 High Apr 1
  • RES 3: 1.1033 50-day EMA
  • RES 2: 1.0989 High Apr 5
  • RES 1: 1.0909 20-day EMA
  • PRICE: 1.0858 @ 15:52 BST Apr 20
  • SUP 1: 1.0758 Low Apr 14
  • SUP 2: 1.0727 Low Apr 24, 2020 and bear trigger
  • SUP 3: 1.0659 0.764 proj of the Feb 10 - Mar 7 - 31 price swing
  • SUP 4: 1.0636 Low March 23 2020

EURUSD remains above its recent low of 1.0758 on Apr 14. The trend outlook remains bearish. Last week’s cycle lows confirmed a resumption of the trend, resulting in a break of the bear trigger at 1.0806, Mar 7 low. This puts prices at the lowest levels since mid-2020. Attention is on 1.0727, Apr 24 2020 low and the key 1.0636 level, Mar 23 2020 low. For bulls, clearance of 1.1185 is needed to highlight a base. Initial firm resistance is at 1.0909.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.