EUR/USD door open for a test of 1.080 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - In light of the recent price action in the pair, Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees a potential downside to the 1.0808 area.

    Key Quotes

    EUR/USD remains under pressure following its break of its 7 month 2015 support line”.

    “This is bearish and is considered to be the completion of a consolidation pattern which has developed for most of this year”.

    “We would like to also see a weekly close below 1.0965/40 to confirm the break, but currently will just go with it - we look for losses to 1.0808 and 1.0457, the March low”.
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