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#1 11-04-2018 11:25:56

johnedward
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From: Paris - France
Registered: 21-12-2009
Posts: 2230
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EUR/USD: the euro should soon encounter solid resistance (Commerzbank)

EUR/USD: the euro should soon encounter solid resistance (Commerzbank)


http://www.forex-central.net/forum/userimages/LOGO-commerzbank.jpeg


Commerzbank suggests that the EUR/USD's rise on the forex should be blocked by strong resistance.

"The EUR/USD continues to rise in its range following its failure to close below the 2017-2018 uptrend line at 1.2257.

In the short term, the EUR/USD should find stronger resistance in the 1.2450/75 zone.

The Elliott intraday count is positive, but suggests that the rally will fail before the February high at 1.2556 and the long-term trend line at 1.2622.
"


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

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