1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

EUR/USD could struggle in the mid-1.1000s – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s upside could face strong resistance in the 1.1050/90 band.

    Key Quotes

    EUR/USD has tested, but appears to be stalling at the 200 day moving average circa 1.1047. Between here and 1.1087 (September low) is quite a pivotal area. Ideally this will again provoke failure and we continue to target 1.0560/1.0457 (the December 2015 and March 2015 lows)”.

    “While capped by 1.11, the market will remain directly offered. Above here will neutralise the immediate outlook. We continue to regard the 1.1377 peak as an interim high”.
    For more information, read our latest forex news.
     

Share This Page