Karen Jones, analyst at Commerzbank, suggests that the EUR/USD pair has eroded the 20 day ma and attention is on the 55 day ma at 1.1263. Key Quotes “For now, we are unable to rule out a retest of the 1.1110 support but, if seen, we look for this to hold (this is less favoured). Be advised that the pattern being traced out is a potential large reversal pattern.” “We have divergence of the weekly RSI and a 13 count on the weekly chart as well and hence there is a risk of bullish reversal. Overhead lies the 100 day ma at 1.1320 and the resistance line at 1.1342 ahead of the 200 day ma at 1.1402. Only above the 200 day ma would this imply a bullish reversal.” “Support at 1.1110 is regarded as the break down point to 2018-2019 support line (connects the lows) at 1.1052, the 1.0963 TD support 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 EU’s Hogan: Agriculture should be excluded from trade negotiations with the US FX Street 3 years Karen Jones, analyst at Commerzbank, suggests that the EUR/USD pair has eroded the 20 day ma and attention is on the 55 day ma at 1.1263. Key Quotes "For now, we are unable to rule out a retest of the 1.1110 support but, if seen, we look for this to hold (this is less favoured). Be advised that the pattern being traced out is a potential large reversal pattern." "We have divergence of the weekly RSI and a 13 count on the weekly chart as well and hence there is a risk of bullish reversal. Overhead lies the 100 day… 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.
