EUR/USD scope for a retest of 1.0660/1.0700 – Commerzbank
|Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted there is room for a visit of the 1.0660/1.0700 area.
Key Quotes
“EUR/USD has not sustained the break down from the base of the cloud at 1.0563. This delays our negative bias as it allows for a corrective move into the 1.0660/1.0700 band. Once complete our focus will return to recent lows at 1.0352/40”.
“Market will remain directly offered below its 20 day ma at 1.0698. Above here lies 1.0820/26, which represents the 50% retracement and the top of the cloud”.
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.