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Trips Bull Trigger

EURUSD TECHS
  • RES 4: 1.0851 High Apr 25
  • RES 3: 1.0836 2.0% 10-dma envelope
  • RES 2: 1.0787 High May 30 and a key resistance
  • RES 1: 1.0749 High Jan 9
  • PRICE: 1.0745 @ 15:53 GMT Jan 9
  • SUP 1: 1.0585 20-day EMA
  • SUP 2: 1.0484/83 Low Jan 6 / 3.0% Lower Bollinger Band
  • SUP 3: 1.0436 50-day EMA
  • SUP 4: 1.0394 Low Dec 1

A strong recovery extended Monday in EURUSD, confirming the end of the recent corrective pullback. The continuation higher has resulted in a trip of the bull trigger at the Dec15 high at 1.0735, and a resumption of the uptrend. Candle patterns add to the recent bullish price action after Friday trade formed a bullish engulfing candle. The first key support to watch lies at 1.0484, Friday’s low.

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