In light of the ongoing sell off, the pair could now retreat to the 1.1411 level, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “EUR/USD is on the defensive and has eroded the 1.1510/08 key support. This de stabilises the chart and allows for losses to 1.1411, the 78.6% retracement. This is seen as the last defence for the 1.1330 200 week ma and the 1.1301 recent low. We note that the Elliott wave count is still labelling this as corrective only and ideally we will see 1.1411 hold and provoke reversal”. “Rallies will find initial resistance at 1.1607/41, the 20 and 55 day ma and only above here will allow for another fun up to the 1.1790/1.1815 region”. 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 GBP apathetic after the Conservative Party Congress – Danske Bank FX Street 5 years In light of the ongoing sell off, the pair could now retreat to the 1.1411 level, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes "EUR/USD is on the defensive and has eroded the 1.1510/08 key support. This de stabilises the chart and allows for losses to 1.1411, the 78.6% retracement. This is seen as the last defence for the 1.1330 200 week ma and the 1.1301 recent low. We note that the Elliott wave count is still labelling this as corrective only and ideally we will see 1.1411 hold and provoke reversal". "Rallies will find initial… 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.
