- Analytics
- News and Tools
- Market News
- EUR/USD: Break below 1.2058/52 to clear the way for a retest of key support at 1.1999/1.1986 - Credit Suisse
EUR/USD: Break below 1.2058/52 to clear the way for a retest of key support at 1.1999/1.1986 - Credit Suisse
FXStreet reports that EUR/USD has suffered a sharp setback and the Credit Suisse analyst team suggests that below 1.2058/52, the pair would warn of a retest of key price and retracement support at 1.1999/86.
“Beneath 1.2058/52 would be seen marking a break to clear the way for a test of what we see as more important support at 1.1999/86 – the early May low and 38.2% retracement of the March/May rally.”
“Only below 1.1999/86 would warn of a more important top (and a possible even larger ‘head & shoulders’ top for further weakness to the 200-day average at 1.1954 initially, then 1.1943/42.”
“Resistance is seen at 1.2110/14 initially, with a break above 1.2152 needed to reassert an upward bias for strength back to 1.2182/85."
© 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
