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EUR/USD upside seen as corrective – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the current up move of the pair is seen as corrective.

    Key Quotes

    EUR/USD is upside corrective and so far has reached the 1.1032 200 day ma”.

    “It remains bid and there is scope for the 1.1087/97 September low and 28th October high”.

    “Currently we remain unable to rule out an advance towards key resistance, which remains the 1.1228/17 2014-2015 downtrend and 55 week ma and while we it is possible that these are retested we look for the market to fail here”.
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