According to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, EUR/USD could extend the recovery to the area above 1.1100 the figure. Key Quotes “EUR/USD last week eroded the four month downtrend and given that the market has recently reversed from the base of the weekly channel at 1.0892, we view the market as a base. We look for recovery to initially the mid September high at 1.1110. A close above here would trigger another leg higher to the 200 day ma at 1.1218″. “Longer term the critical resistance to overcome is the top of the one year channel at 1.1396 and the 200 week ma at 1.1353″. “Dips lower should be contained by 1.0990 and 1.0941 for an immediate upside bias to be maintained”. 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 USD/JPY retreats from 2-1/2 month tops, still comfortable above 108.00 handle FX Street 4 years According to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, EUR/USD could extend the recovery to the area above 1.1100 the figure. Key Quotes "EUR/USD last week eroded the four month downtrend and given that the market has recently reversed from the base of the weekly channel at 1.0892, we view the market as a base. We look for recovery to initially the mid September high at 1.1110. A close above here would trigger another leg higher to the 200 day ma at 1.1218". "Longer term the critical resistance to overcome is the top of the one year… 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.
