Scary moments! I think the upside will prevail. What do you think Mr Lawson? Up or downmlawson71 wrote: Wed Jul 10, 2019 12:57 am It's finally testing 1.1200 but I, personally, would not open another short before I see a proper breakout below that level.
EUR/USD remains on the defensive
According to Karen Jones, analyst at Commerzbank, EUR/USD pair remains on the defensive and below the 55 day moving average at 1.1232.
Key Quotes
“It will shortly encounter the March and mid-June lows at 1.1181/76, we look for these to hold. While this area underpins on a daily chart closing basis, the 200 day moving average and early June high at 1.1328/48 will remain in sight. Above the 1.1412 June high we look for a test of the 1.1570 2019 high. Slightly longer term we target 1.1815/54, the highs from June and September 2018.”
“We regard the April and May lows at 1.1110/06 as a turning point and continue to view the market as based longer term and target 1.1990 (measurement higher from the wedge).”
Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-r ... 1907100609 (Article)
