Karen Jones, analyst at Commerzbank, explains that the EUR/USD pair has tried to break up from a falling wedge pattern, but the market faltered ahead of initial resistance at the 200 day ma at 1.1476 and has gone into consolidation mode. Key Quotes “We suspect that it is trying to base but need to do more work – once above the 200 day ma this will target the 1.1570 January high together with the 55 week ma at 1.1610. We view 1.1176 as an interim low in place. Initial support lies at 1.1216 November low ahead of 1.1176 low.” “Long term trend (1-3 months): Completed a falling wedge – target the 55 week ma. Then the 1.1815 September 2018 high on route to 1.20.” 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 EUR/USD is tilted to the downside in short term – Danske Bank FX Street 4 years Karen Jones, analyst at Commerzbank, explains that the EUR/USD pair has tried to break up from a falling wedge pattern, but the market faltered ahead of initial resistance at the 200 day ma at 1.1476 and has gone into consolidation mode. Key Quotes "We suspect that it is trying to base but need to do more work - once above the 200 day ma this will target the 1.1570 January high together with the 55 week ma at 1.1610. We view 1.1176 as an interim low in place. Initial support lies at 1.1216 November low ahead of 1.1176 low." "Long… 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.
