Complete turnaround this week! I don't know if it will end the 11-year downtrend we've been seeing since the GFC in 2008, thoughmlawson71 wrote: Thu Aug 08, 2019 12:05 am The move north continues as I thought, I wouldn't be surprised if it reaches 1.1300.
EUR/USD: Up move is approaching resistance – Commerzbank
According to Karen Jones, analyst at Commerzbank, EUR/USD’s up move is approaching resistance at 1.1285 and the 200 day ma at 1.1297.
Key Quotes
“Key resistance is 1.1360/77, the 2018-2019 down channel and the 55 week ma. A weekly close above this latter level is needed for us to adopt an outright bullish stance.”
“Dips lower are likely to find some support circa 1.1150/06. Key support is the 1.0967 2018-2019 support line and below here lies the 78.6% retracement at 1.0814/78.6% retracement.”
“The market will need to regain the 55 week ma and channel at 1.1360/77 to generate upside interest.”
Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-u ... 1908080604 (Article)
