Karen Jones, analyst at Commerzbank, points out that the EUR/USD pair has eroded the 1.1185/75 supports and has slide into 22 month lows. Key Quotes “Intraday Elliott wave counts are negative and the DMI is also negative. Below 1.1185/75 (61.8% retracement) lies the 1.1110, the May 2017 low and the 1.0814/78.6% retracement.TD support on the weekly chart lies at 1.0963. Nearby resistance is offered by the 55 and 100 day moving averages at 1.1287/1.1339 and the market is directly offered below here.” “We suspect that the market is trying to base but needs to do more work (we note the 13 count on the weekly chart and this adds weight to the idea of a potential base). Initial resistance is the 100 day ma at 1.1339 and the resistance line at 1.1373 ahead of the 200 day ma at 1.1428.” 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 BoJ: Yield curve control unchanged – Danske Bank FX Street 4 years Karen Jones, analyst at Commerzbank, points out that the EUR/USD pair has eroded the 1.1185/75 supports and has slide into 22 month lows. Key Quotes "Intraday Elliott wave counts are negative and the DMI is also negative. Below 1.1185/75 (61.8% retracement) lies the 1.1110, the May 2017 low and the 1.0814/78.6% retracement.TD support on the weekly chart lies at 1.0963. Nearby resistance is offered by the 55 and 100 day moving averages at 1.1287/1.1339 and the market is directly offered below here." "We suspect that the market is trying to base but needs to do more work (we note the… 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.
