fxs_header_sponsor_anchor

News

EUR/USD: longer term risk is still on the topside - Commerzbank

Karen Jones, Analyst at Commerzbank, maintains a bullish outlook for the EUR/USD pair, despite repeated failed attempts to break through the 1.2092 September highs. 

Key quotes: 

“EUR/USD continues to be capped by the 1.2092 September high, we note the 13 count on the 240 minute chart and would allow for a small pullback ahead of further upside attempts.”

“A rise above 1.2092 will target the 1.2168 50% retracement of the move down from the 2015 high and then the 1.2414 200 month ma.”

“It is bid above the 1.1833 short term uptrend and this guards the 1.1717/12 November and December lows. The 1.1712 mid November low guards the 1.1553 7th November low.”

“It is possible that the move to 1.1553 was the end of an a-b-c correction lower. This would mean that the longer term risk is still on the topside.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.