EUR/USD severs its four-month uptrend at 1.1826 as the pair trades to 1.1770, down -0.40% on the day. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, sees potential for a drop to the 1.1495 March high. Key quotes “EUR/USD has eroded the four-month uptrend at 1.1826. It suggests that we will see a deeper retracement. Initial support is the 55-day ma at 1.1702 and the 2 August low at 1.1695. There is potential for the March high at 1.1495.” “Intraday rallies are indicated to fail 1.1785/1.1805 and while below 1.1917 a downside corrective stance will now be maintained. This guards the 1.2014/15 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/USD Price Analysis: Recovery meets fresh supply at 21-HMA ahead of BOE FX Street 1 year EUR/USD severs its four-month uptrend at 1.1826 as the pair trades to 1.1770, down -0.40% on the day. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, sees potential for a drop to the 1.1495 March high. Key quotes “EUR/USD has eroded the four-month uptrend at 1.1826. It suggests that we will see a deeper retracement. Initial support is the 55-day ma at 1.1702 and the 2 August low at 1.1695. There is potential for the March high at 1.1495.” “Intraday rallies are indicated to fail 1.1785/1.1805 and while below 1.1917 a downside corrective stance will now be maintained.… 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.
