EUR/USD upside stalled around 1.0820/26 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair’s up move has found a tough barrier in the 1.0820/26 area.

Key Quotes

EUR/USD last week rallied to and stalled at 1.0820/26, the 50% retracement and the top of the cloud, this together with 1.0875 the December high represents much tougher resistance for the market and we note that while the market has seen a strong rally it has not enough to restore the up move”

“The market is finding support at the 20 day ma at 1.0696 and we suspect will need to go below the base of the cloud at 1.0570 to negate the current push higher”.

“Above 1.0875 would introduce scope to the 200 day ma at 1.09935”.

You may be interested

shares14 views

Zeroedge To Offer 0% Commission on E-Sports betting

Brian Evans - Feb 20, 2018

Online sports betting has been growing in popularity over the past few years and is now the leading form of online gambling in the world. An interesting…

shares21 views

What Is Streamr DATAcoin?

Brian Evans - Feb 20, 2018

As is quite clear for everyone to see, a majority of the data which powers the modern economic engine is delivered to customers through the use of…

shares13 views

Particl Implements Quantum Resistance as Part of their Cold Stake Security Protocol

Brian Evans - Feb 20, 2018

As the digital currency market continues to evolve, new platforms have to adopt new security protocols, to keep funds safe, and grant users more features. Particl represents…

Most from this category

%d bloggers like this: