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Uptrend Remains Intact

EURUSD TECHS
  • RES 4: 1.1225 1.236 projection of the Mar 15 - 23 - 24 price swing
  • RES 3: 1.1185 High Mar 31 2022
  • RES 2: 1.1127 1.00 projection of the Mar 15 - 23 - 24 price swing
  • RES 1: 1.1095 High Apr 26
  • PRICE: 1.1019 @ 18:45 BST Apr 28
  • SUP 1: 1.0956 20-day EMA
  • SUP 2: 1.0909 Low Apr 17
  • SUP 3: 1.0853/31 50-day EMA / Low Apr 10
  • SUP 4: 1.0788 Low Apr 3

EURUSD remains in an uptrend and last week’s fresh cycle high reinforces a bullish theme. Short-term weakness is considered corrective. A resumption of gains would open 1.1127, a Fibonacci retracement. Note that moving average studies are in a bull-mode condition highlighting a rising trend. On the downside, key short-term support is unchanged at the 20-day EMA. It intersects at 1.0956.

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