Free Trial

Uptrend Remains Intact

EURUSD TECHS
  • RES 4: 1.0668 2.236 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 3: 1.0615 High Jun 27
  • RES 2: 1.0559 2.00 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 1: 1.0545 High Dec 2
  • PRICE: 1.0520 @ 19:34 GMT Dec 2
  • SUP 1: 1.0394/0291 Low Dec 1 / Low Nov 30
  • SUP 2: 1.0223/0198 Low Nov 21 / High Sep 12
  • SUP 3: 1.0148 50-day EMA
  • SUP 4: 1.0094 High Oct 27 and a key near-term resistance

EURUSD ended last week on a firm note and is holding on to its recent gains. Thursday’s break higher cancelled a bearish signal on Nov 28 - a shooting star candle pattern - and instead has confirmed a resumption of the current uptrend. This also maintains the positive price sequence of higher highs and higher lows. The focus is on 1.0559, a Fibonacci projection. Key short-term support has been defined at 1.0291 low, the Nov 30 low.

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.