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Free AccessTrend Structure Remains Bullish
- RES 4: 1.1229 High Jul 20 2023
- RES 3: 1.1150 High Jul 27 2023
- RES 2: 1.1139 High Dec 29 2023 and a key resistance
- RES 1: 1.1047/1084 High Aug 14 / High Dec 29 2023
- PRICE: 1.0982 @ 06:03 BST Aug 16
- SUP 1: 1.0909 20-day EMA
- SUP 2: 1.0861 50-day EMA
- SUP 3: 1.0778 Low Aug 1 and a key support
- SUP 4: 1.0736 Low Jul 3
A bullish theme in EURUSD remains intact despite Thursday’s move lower. The pair traded higher Tuesday and Wednesday, extending this week’s bull phase. Resistance at 1.1008, the Aug 5 high, has been cleared and this confirms a resumption of the uptrend. Sights are on 1.1084, the Dec 29 ‘23 high. Note MA studies remain in a bull-mode set-up, highlighting a rising trend condition. Initial support to watch lies at 1.0909, the 20-day EMA.
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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.