FXStreet reports that Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, briefs that EUR/USD slips towards the November 11 low at 1.1745 as the pair looks for a slide into the 1.1695/00 band.
“EUR/USD has the November 11 low at 1.1745 in its sights while on the way to the 1.1695 to 1.1600 band. This represents the 38.2% retracement of the move up from 2020 at 1.1695, the 55-week ma at 1.1642 and the previous 2008-2020 downtrend which is located at 1.1600.”
“Rallies will find initial resistance at the 200-day ma at 1.1867 and the near-term downtrend at 1.1870. This guards the more important 1.1990/1.2014 pivot.”
© 2000-2021. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
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 firstname.lastname@example.org.