Karen Jones, analyst at Commerzbank, suggests that EUR/USD combine is consolidating sideways, bounces are terribly warm and it remains on the defensive.
Key Quotes
“Intraday Elliott wave counts suggests that intraday bounces ought to struggle circa one.1150. on the far side this attention remains on the one.1027 recent low and therefore the base of its down channel at one.0955. Below here lies the seventy eight.6% retracement at one.0814/78.6% retracement. near resistance is that the two hundred day ma at one.1284, however key resistance is one.1343/65, the 2018-2019 down channel and therefore the fifty five week ma. A weekly shut on top of this latter level is required for North American country to adopt associate outright optimistic stance.”
“The market can have to be compelled to regain the fifty five week ma and channel at one.1343/65 to get face interest.”
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