- Analytics
- News and Tools
- Market News
- EUR/USD to extend its advance towards the 1.1756 mark – Commerzbank
EUR/USD to extend its advance towards the 1.1756 mark – Commerzbank
EUR/USD has reached the near-term downtrend at 1.1620. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to reach the 1.1756 four-month downtrend.
RSI has diverged
“EUR/USD’s new low at 1.1522 was not confirmed by the daily RSI and the market has corrected higher to reach the downtrend, which today is located at 1.1620.”
“The intraday Elliott wave counts remain positive and we would allow for a deeper retracement to 1.1756 four-month downtrend.”
“Below 1.1522 lies the 50% retracement of the move from 2020 and the March 2020 high at 1.1492/95.”
“Key support is the previous downtrend (from 2008) which is now located at 1.1395.”
© 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
