You are not logged in.

#1 09-04-2019 10:38:23

johnedward
Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2532
Website

EUR/USD: the euro will likely accentuate its rebound on the forex

EUR/USD: the euro will likely accentuate its rebound on the forex (Commerzbank)


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


Karen Jones, an analyst at Commerzbank, notes that the EUR/USD has continued to hold steady from its recent low of 1.1176, and this week we should see the currency pair recover further on the currency market.

The market has not recently seen a technical break to new lower levels and we are in favour of a short-term bullish recovery. We suspect that the pair is trying to form a base and start rising again, but it needs to do more work to achieve this (we note the 13-count on the weekly chart and that this adds weight to the idea of a bullish recovery).

Once above the 200-day moving average line at 1.1455, the pair will likely target the January peak of 1.1570, as well as the 55-week moving average at 1.1568. The initial resistance is the limit of the 20-day moving average at 1.1281.

Below 1.1185/75 (61.8% retracement) are 1.1110, the May 2017 low and the 78.6% retracement at 1.0814."


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

Offline

 

Board footer