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Uptrend Accelerates

EURO-DOLLAR TECHS
  • RES 4: 1.2000 Psychological round number
  • RES 3: 1.1982 3.0% 10-dma envelope
  • RES 2: 1.1978 1.236 proj of May 7 - Jun 10 rally from Jun 19 low
  • RES 1: 1.1905 Intraday high
  • PRICE: 1.1896 @ 05:59 BST Jul 31
  • SUP 1: 1.1731 Low Jul 30
  • SUP 2: 1.1699 Low Jul 28
  • SUP 3: 1.1639/1581 Low Jul 27 / Low Jul 24
  • SUP 4: 1.1534 20-day EMA

EURUSD upside has accelerated having reversed yesterday's initial pullback. A bullish theme remains intact and follows the breach of 1.1495, Mar 9 high on Jul 21. Bulls haven't looked back since as the trend maintains its impulsive tone. The focus is on 1.1978 next, a Fibonacci projection and the psychological 1.2000 handle. Note, trend conditions are overbought but this is not restricting gains. Support is seen at 1.1731. Jul 30 low.

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