Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair now stays capped by the resistance line at 1.1739 for the time being. Key Quotes “EUR/USD is very much sidelined, but so far remains capped by the near term resistance line at 1.1739. For now we will assume while below 1.1790, a downside bias remains, however the market is fairly neutral currently. Attention stays on the 1.1510/08 recent lows and below here lies the 200 week ma at 1.1379″. “The pattern being traced out on the chart is a potential descending triangle – for this to stay valid prices should remain below the resistance line – these patterns are bearish”. “A recovery above 1.1790 will target 1.1855. Above 1.1855 we look for a deeper retracement to the 1.1937 55 week ma, with scope for the 1.1981 200 day ma, where we suspect that it will fail”. 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 AUD/USD clings to modest gains but lacks follow-through, US GDP in focus FX Street 5 years Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair now stays capped by the resistance line at 1.1739 for the time being. Key Quotes "EUR/USD is very much sidelined, but so far remains capped by the near term resistance line at 1.1739. For now we will assume while below 1.1790, a downside bias remains, however the market is fairly neutral currently. Attention stays on the 1.1510/08 recent lows and below here lies the 200 week ma at 1.1379". "The pattern being traced out on the chart is a potential descending triangle - for this to stay valid… 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.
