In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, technicals point to an imminent correction higher in spot. Key Quotes “EUR/USD has again sold off, it has ignored the 13 count and the daily RSI has not confirmed the new low. The market stays immediately offered below the accelerated downtrend at 1.1735 but rallies will have very little impact while below the 1.1996 14th May high. Currently the Elliott wave count is suggesting recovery to 1.1860/1.1980. We note the TD perfected set up and a number of warning signals all of which suggest that a correction higher is imminent”. “The market has reached the 1.1616 May 2016 high and beyond here we target the 1.1553 November low with the 200 week ma at 1.1433 our ultimate goal”. 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 Fed’s Bullard: Don’t want to prejudge what Fed will do in June meeting FX Street 5 years In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, technicals point to an imminent correction higher in spot. Key Quotes "EUR/USD has again sold off, it has ignored the 13 count and the daily RSI has not confirmed the new low. The market stays immediately offered below the accelerated downtrend at 1.1735 but rallies will have very little impact while below the 1.1996 14th May high. Currently the Elliott wave count is suggesting recovery to 1.1860/1.1980. We note the TD perfected set up and a number of warning signals all of which suggest that a correction higher… 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.
