EUR/USD: Unable to maintain gains - Commerzbank

Sandeep Kanihama FXStreet Contributor

According to Karen Jones, analyst at Commerzbank, EUR/USD currently seems reluctant to break down presently as any attempt to make gains are quickly defeated and currently the market is relatively neutral.

Key Quotes

“The market needs to overcome the November high at 1.1500 to alleviate immediate downside pressure and allow for gains to 1.1555/1.1622 (2018 downtrend and 16th October high). Dips lower will ideally be contained by the 1.1262 level – this guards the 1.1216 November low.”

“Long term trend (1-3 months): A rise above the recent high at 1.1625 would confirm a trend reversal and put the 55 week moving average at 1.1852 back on the cards.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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