Karen Jones, analyst at Commerzbank, explains that the EUR/USD pair is correcting higher near term following the recent sell off to the 61.8% Fibonacci retracement of the 2017-18 advance at 1.1186, which has held the initial test. Key Quotes “The bounce higher has started to erode the 20 day ma at 1.1318 and this has neutralised the chart somewhat although intraday Elliott wave counts remain negative.” “There is now a considerable amount of resistance above the market extending up to the 200 day ma at 1.1489. Rallies will find initial resistance at 1.1367/71 the 55 and 100 day ma, which guard the 1.1420 end of February high and the 1.1428 downtrend. Below 1.1185/75 lies the 1.1110, the May 2017 low and the 1.0814/78.6% retracement.” 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 Final UK voting amongst market movers today – Danske Bank FX Street 4 years Karen Jones, analyst at Commerzbank, explains that the EUR/USD pair is correcting higher near term following the recent sell off to the 61.8% Fibonacci retracement of the 2017-18 advance at 1.1186, which has held the initial test. Key Quotes "The bounce higher has started to erode the 20 day ma at 1.1318 and this has neutralised the chart somewhat although intraday Elliott wave counts remain negative." "There is now a considerable amount of resistance above the market extending up to the 200 day ma at 1.1489. Rallies will find initial resistance at 1.1367/71 the 55 and 100 day ma, which… 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.
