EUR/USD now looks to 1.0952/12 – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis Research at Commerzbank, the pair could now target the 1.0950/12 area.

Key Quotes

“EUR/USD’s rebound has remained tepid and is indicated to terminate circa 1.1065. While capped by the 1.1123 end of August low, we will consider the market as offered. We look for losses to the June and July lows at 1.0952/12. Fridays price action was an outside day to the downside and we do not think these lows will hold either. Below here we target the 1.0682 32 year support line”.

“Resistance comes in at the 1.1105/23 August, September and October 7 th lows with further resistance between the 200- and 55-day moving averages at 1.1175/82. Still more resistance can be seen along the 1.1237 resistance line”.

 

1 Week
Avg Forecast 1.0999
100.0%90.0%40.0%04050607080901000
  • 40% Bullish
  • 50% Bearish
  • 10% Sideways
Bias Bearish
1 Month
Avg Forecast 1.0927
100.0%84.0%38.0%04050607080901000
  • 38% Bullish
  • 46% Bearish
  • 15% Sideways
Bias Bearish
1 Quarter
Avg Forecast 1.0839
100.0%87.0%27.0%020304050607080901000
  • 27% Bullish
  • 60% Bearish
  • 13% Sideways
Bias Bearish

 

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 securities. 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 Forex 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.