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Trend Signals Remain Bearish

  • RES 4: 1.0368 High Aug 10 and a key resistance
  • RES 3: 1.0327 High Aug 12
  • RES 2: 1.0198/0249 High Sep 12 / 76.4% of Aug 10 - Sep 6 downleg
  • RES 1: 1.0087 Bear channel top drawn from the Feb 10 high
  • PRICE: 0.9876 @ 16:31 BST Sep 21
  • SUP 1: 0.9867 Low Sep 21
  • SUP 2: 0.9864 Low Sep 6 and the bear trigger
  • SUP 3: 0.9800 Round number support
  • SUP 4: 0.9785 2.00 projection of the Jun 9 - 15 - 27 price swing

EURUSD is trading lower. The pair remains vulnerable following the Sep 13 reversal and price remains inside the bear channel, drawn from the Feb 10 high. The channel top intersects at 1.0087 and marks a key resistance. A close above it would highlight a stronger reversal and a channel breakout. With resistance in place and moving average studies in a bear mode condition, the focus is on the bear trigger at 0.9864, the Sep 6 low.

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