EURUSD TECHS: Monitoring Support
- RES 4: 1.2063 2.236 proj of the Feb 28 - Mar 18 - 247 price swing
- RES 3: 1.2000 Round number resistance
- RES 2: 1.1923 2.00 proj of the Feb 28 - Mar 18 - 247 price swing
- RES 1: 1.1919 High Sep 17
- PRICE: 1.1748 @ 19:44 BST Sep 19
- SUP 1: 1.1727/64 20- and 50-day EMA values
- SUP 2: 1.1574 Low Aug 27
- SUP 3: 1.1528 Low Aug 5
- SUP 4: 1.1392 Low Aug 1 and bear trigger.
The trend theme in EURUSD remains bullish and S/T weakness is considered corrective. Resistance at 1.1743, the Aug 22 high, has recently been cleared, reinforcing a bull cycle. Gains in the first half of last week resulted in a climb above 1.1829 the Jul 01 high and bull trigger. Clearance of this hurdle confirms a resumption of the primary uptrend and opens 1.1923 next, a Fibonacci projection. Support to watch is1.1664. the 50-day EMA.
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Historical bullets
MNI: BAKER HUGHES CANADA RIG COUNT 180; OIL RIGS 123; GAS RIGS 56
- BAKER HUGHES CANADA RIG COUNT 180; OIL RIGS 123; GAS RIGS 56
MNI: BAKER HUGHES US RIG COUNT 538; OIL RIGS 411; GAS RIGS 122
- MNI: BAKER HUGHES US RIG COUNT 538; OIL RIGS 411; GAS RIGS 122
EURUSD TECHS: Strong Close
- RES 4: 1.1851 High Sep 10 2021
- RES 3: 1.1829 High Jul 01 and the bull trigger
- RES 2: 1.1789 High Jul 24
- RES 1: 1.1730/32 High Aug 20 / 22
- PRICE: 1.1729 @ 16:27 BST Aug 22
- SUP 1: 1.1528 Low Aug 5
- SUP 2: 1.1392 Low Aug 1 and bear trigger
- SUP 3: 1.1373 Low Jun 10
- SUP 4: 1.1313 Low May 30
EURUSD posted a strong Friday close on the back of Powell’s speech, reversing any bearish undertone from the pierce of support at the 50-day EMA of 1.1591. A clear break of it would signal scope for a deeper retracement and potentially expose key support at 1.1392, the Aug 1 low. The first support to watch lies at 1.1528, the Aug 5 low. A resumption of gains from here would expose key resistance and the bull trigger at 1.1829, the Jul 1 high.
