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#1 30-05-2018 11:50:42

johnedward
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From: Paris - France
Registered: 21-12-2009
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EUR/USD: Commerzbank expects profit-taking on euro and a rebound

EUR/USD: Commerzbank expects profit-taking on euro and a rebound


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


Commerzbank expects a rebound of the EUR/USD amid profit taking.

"The EUR/USD reached its target (November low at 1.1553). We are expecting profit taking here.

The rallies must exceed the bearish trend line at 1.1710 to ease downward pressure and signal a stronger retracement to 1.1810/1.1935.

The next downside targets come at 1.1450 with the 50% retracement of the 2017-2018 move, and the 200-week moving average at 1.1433.
"


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

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