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EUR/USD to dive towards 1.1620 on a break below 1.1732 – Commerzbank
EUR/USD to dive towards 1.1620 on a break below 1.1732 – Commerzbank ; EUR/USD extends its overnight range play below mid-1.1800 into the European session.
Yazar: Zack Smith
Yayınlanma: 7 Eylül 2020 14:47
Güncellenme: 20 Kasım 2024 23:07
EUR/USD to dive towards 1.1620 on a break below 1.1732 – Commerzbank
EUR/USD extends its overnight range play below mid-1.1800 into the European session. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, is focused on the four-month uptrend at 1.1732 as a lost of this level will introduce scope for a slide towards the 55-day ma at 1.1620.Key quotes
“EUR/USD sold off last week and starts this week with the focus on the four-month uptrend at 1.1732. Intraday Elliott wave counts are negative and there is a risk that the up trend will give way. Failure here will target the 55-day ma at 1.1620 and potentially the March high at 1.1495.” “The market has recently failed at 1.2014 and intraday rallies are indicated to hold below 1.1875.”| S3 | S2 | S1 | R1 | R2 | R3 |
|---|---|---|---|---|---|
| 1.1707 | 1.1744 | 1.1791 | 1.1876 | 1.1913 | 1.1960 |
| Trend Index | OB/OS Index |
|---|---|
| Bullish | Neutral |
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