Free Trial

Trend Structure Remains Bullish

EURUSD TECHS
  • RES 4: 1.1139 High Dec 29 ‘ 23 and a key resistance
  • RES 3: 1.1084 High Dec 29
  • RES 2: 1.1046 High Jan 2
  • RES 1: 1.1012 76.4% retracement of the Dec 28 ‘23 - Apr 16 downleg
  • PRICE: 1.0993 @ 06:01 BST Aug 14
  • SUP 1: 1.0901 20-day EMA
  • SUP 2: 1.0850 50-day EMA
  • SUP 3: 1.0778 Low Aug 1 and a key support
  • SUP 4: 1.0736 Low Jul 3

EURUSD traded higher yesterday, signalling an end to the recent corrective pullback. A bull theme remains intact following recent gains and the breach of a key short-term resistance at 1.0948, Jul 17 high. Sights are on 1.1012 next, a Fibonacci retracement. Moving average studies remain in a bull-mode set-up, highlighting a rising trend. Initial support to watch lies at 1.0901, the 20-day EMA. A deeper retracement would be considered corrective.

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.