- Analytics
- News and Tools
- Market News
- EUR/USD: Positive outlook - Commerzbank
EUR/USD: Positive outlook - Commerzbank
In view of Karen Jones, analyst at Commerzbank, EUR/USD’s outlook is positive as it has overcome on a closing basis both the 200 week ma and the 200 day ma at 1.1348 which should trigger an attempt on the 1.1416 55 week moving average and the 1.1570 2019 high.
“Beyond this we target 1.1815/54 (highs from June and September 2018). We note the 13 count on the 60 minute chart and we would allow for a small near term retracement into the 1.1360/25 band ahead of further gains. Initial support at 1.1175. We regard recent lows at 1.1110/06 as an interim turning point and continue to view the market as based longer term and we target 1.1990 (measurement higher from the wedge). Support at 1.1110/06 is regarded as the break down point to the 2018-2019 support line at 1.1027 and the 1.0814 78.6% Fibonacci 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
