EURUSD: Breaking above 1.0735 barrier would be very encouraging - Natixis
|According to Micaella Feldstein, research analyst at Natixis, the 1.0525-1.0543 area (61.8% Fibonacci retracement of the 1.0340-1.0831 wave / Jan 3rd, 2017- Feb 2nd, 2017) interrupted the downside for EUR/USD, preventing the emergence of a downside bubble on the daily chart and paving the way for a rally to 1.0735 (daily parabolic).
Key Quotes
“Breaking above this barrier would be very encouraging and would enable the pair to recover further to the key 1.0819-1.0831 barriers (daily Bollinger upper band); levels already tested in December 2016 and also at the end of January 2017/ beginning of February 2017.”
“A break of these last barriers would be needed to initiate a lasting rally in the coming weeks to the 1.0913 threshold (9-month moving average) and to 1.0986 (monthly Bollinger moving average). The supports stand at 1.0573, at 1.0525-1.0543, at 1.0491 and at 1.0390-1.0404.”
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