![]() Price is lingering above our 1st support area at 0.6554 which lines up the 61.8% Fibonacci retracement, if price were to break through it, the next key support level would be at 0.6383, which is another overlap support that lines up with the 78.6% Fibonacci retracement. In terms of resistance, there’s 1st resistance at 139.45 which is an overlap resistance and a 50% Fibonacci retracement along with a 61.8% Fibonacci projection. This level needs to be broken to trigger a drop to 2nd support at 127.08 which is the recent major swing low support. Price has dropped strongly and is fast approaching a major overlap support at 130.84. ![]() Price needs to brak the 1st support to trigger the next move down to 2nd support at 0.8937 which is a major swing low support from June 2021. It’s worth noting that price has also dropped below the Ichimoku cloud suggesting a bit more bearishness. ![]() Price has dropped really nicely from our forecasted 1st resistance at 0.9428 previously and is back at major support at 0.9083 which is a multi-swing low support. It has also crossed below the Ichimoku cloud suggesting there might be more bearishness in this move.ġst resistance remains at 1.2440 which is a multi-swing high resistance level that price needs to break past to reach the 2nd long-tern resistance at 1.2671. Price continues to hold well above our intermediate support at 1.1847 which needs to be broken to trigger a double top reversal. In terms of resistance, there is an intermediate resistance at the 1.0787 level where price needs to break past to trigger a further move to 1.1000 level which is a swing high resistance and big figure. We see an ascending trend line suggesting there’s a bit more bullish momentum for EURUSD. Price has started to bounce nicely off 1st support and at the same time, is displaying bullish divergence vs Stochastic suggesting that there might be a further move up. Stochastic is also reversing from an overbought zone with significant downside potential. We could see a reversal from this level to push prices all the way down to 1st support which is a multi-swing low support. ![]() Price has started to reverse from our 1st resistance at 105.56 really nicely and has also started to form a bearish divergence vs Stochastic. ![]()
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