- Analytics
- News and Tools
- Market News
- EUR/USD: Market recovering in its range - Commerzbank
EUR/USD: Market recovering in its range - Commerzbank
Karen Jones, analyst at Commerzbank, points out that the EUR/USD pair is currently recovering in its range but remains capped by 55 day ma at 1.1270.
“For now, we are unable to rule out a retest of the 1.1110 support, but, if seen, we look for this to hold. Be advised that the pattern being traced out is a potential large reversal pattern, we have divergence of the weekly RSI and a 13 count on the weekly chart as well and there is a risk of reversal. Initial resistance is the 100 day ma at 1.1326 and the resistance line at 1.1350 ahead of the 200 day ma at 1.1408. Only above the 200 day ma would this imply reversal. Support at 1.1110 is regarded as the break down point to 2018-2019 support line (connects the lows) at 1.1052, the 1.0963 TD support and the 1.0814/78.6% retracement.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
