EUR/USD: focus on the weekly close – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, has emphasized the relevance of today’s close.

    Key Quotes

    EUR/USD has accelerated higher following its break of the 2014-2016 downtrend, the 55 week ma at 1.1040 and the 200 day ma at 1.1056”.

    “We are approaching the 1.1260 61.8% retracement of the move down from August and the 1.1296 23.6% retracement of the move down from 2014”.

    “The weekly close today will be important – a close above here will force us to neutralise our long term bear trend”.
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