EUR/USD still negative below 1.0821/51 – Commerzbank

Pablo Piovano FXStreet

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair’s stance remains negative below the 1.0821/51 band.

Key Quotes

“EUR/USD held steady yesterday just below the 38.2% retracement at 1.0816. Adding to the weight of resistance here - the March low can be seen at 1.0821 and the October low at 1.0851, our negative bias remains entrenched below here”.

“Above 1.0851 would initiate a deeper retracement to 1.0910 then 1.1000”.

“Intraday dips should find some support at 1.0710/1.0650 ahead of the November 2015 low at 1.0523, and the recent low at 1.0505, which guards the March 2015 low at 1.0457”.

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Strongly Bearish	Neutral	Expanding
1H	Bullish	Neutral	Low
4H	Bearish	Neutral	Expanding
1D	Bearish	Neutral	Low
1W	Strongly Bearish	Neutral	High
Updated Dec 6, 05:45 GMT

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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