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#1 12-02-2018 10:03:59

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2403

EUR/USD: technical rebounds should remain limited (Commerzbank)

EUR/USD: technical rebounds should remain limited (Commerzbank)

Commerzbank believes that the EUR/USD's rebound attempts should remain limited.

"The EUR/USD remained stable on Friday. The intraday Eliott wave counts are contradictory but suggest that the rallies should find resistance towards 1.2315/50. A close support level is at 1.2165, the 18 January low, ahead of the August and September peaks at 1.2092/70.

The pair recently failed under long-term Fibonacci resistance levels at 1.2517/38 and we believe that as a result of daily and weekly RSI divergences, the EUR/USD has recorded a top."

"Anything worth having is worth going for - all the way." - J.R. Ewing



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