Commerzbank analyst Karen Jones thinks that the outlook for the EUR/TRY pair is positive. Key quotes “The market has virtually reached the target from the base at 6.97/99. The base measurement from the 6.4096-5.8351 range measures to 6.9841 and as this is in close proximity to the 50% retracement at 6.9750 and the midSeptember low at 6.9894. We made this our short term target. We would allow for some near term profit taking in this region.” “A close above 7.00 would introduce scope to the 61.8% and 78.6% retracements, these lie at 7.24/7.63. This is considered to be the last defence for the 8.1147 August 2018 high.” “Initial support is the 6.6054 end of March high. Below here support continues to be seen between the 200- and 55-day moving averages at 6.4233, 6.3264 and also at the January, February and March lows at 5.9727/5.9089.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next New York Supreme Court judge Joel M. Cohen finds case against Bitfinex and Tether “amorphous and endless.” FX Street 3 years Commerzbank analyst Karen Jones thinks that the outlook for the EUR/TRY pair is positive. Key quotes "The market has virtually reached the target from the base at 6.97/99. The base measurement from the 6.4096-5.8351 range measures to 6.9841 and as this is in close proximity to the 50% retracement at 6.9750 and the midSeptember low at 6.9894. We made this our short term target. We would allow for some near term profit taking in this region." "A close above 7.00 would introduce scope to the 61.8% and 78.6% retracements, these lie at 7.24/7.63. This is considered to be the last… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
