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#1 18-02-2019 09:10:17

johnedward
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From: Paris - France
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EUR/USD: the euro seems to be poised for a recovery on the forex

EUR/USD: the euro seems to be poised for a recovery on the forex (Commerzbank)


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


Karen Jones, an analyst at Commerzbank,says that regarding the evolution of the EUR/USD pair, we see a bullish recovery from current levels, which would preserve the range and put the 200-day moving average back into perspective at 1.1525, after slowly dropping to November's low of 1.1216 last week.

"For the time being, the euro-dollar pair is on the defensive and will need to hit 1.1342 again to ease the immediate downward pressure. Below 1.1216, the pair will target the 61.8% Fibonacci retracement of the 2017-2018 rally to 1.1186.

An increase from the recent peak of 1.1623 would confirm a reversal of the trend and bring the 55-week moving average down to 1.1723."

The EUR/USD pair is pushing upwards on the forex, but still has trouble breaking the 1.1300/1.1325 resistance zone.


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

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