In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair keeps the negative bias and looks to 1.1510 and 1.1407. Key Quotes “EUR/USD remains on the defensive and our negative bias remains entrenched. We recently saw the market’s upside correction terminate at the 1.1855 38.2% Fibonacci retracement and the cross collapse lower. Attention remains on the recent low at 1.1510 and the 200 week ma at 1.1407. We would expect this to hold the initial test and provoke some profit taking. Below 1.1400 would introduce scope to the 61.8% retracement at 1.1186. Rallies will now find the 20 day ma at 1.1680 offer initial resistance and we would expect 1.1855 to cap for a negative bias to remain entrenched”. “Above 1.1855 we look for a deeper retracement into the 1.1960/90 band”. 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 Goldman Sachs expects a 3% rise to year-end S&P 500 target of 2850 FX Street 4 years In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair keeps the negative bias and looks to 1.1510 and 1.1407. Key Quotes "EUR/USD remains on the defensive and our negative bias remains entrenched. We recently saw the market's upside correction terminate at the 1.1855 38.2% Fibonacci retracement and the cross collapse lower. Attention remains on the recent low at 1.1510 and the 200 week ma at 1.1407. We would expect this to hold the initial test and provoke some profit taking. Below 1.1400 would introduce scope to the 61.8% retracement at 1.1186. Rallies will now find… Top 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.
