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10 Dec 2015
EUR/USD upside seen as corrective – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the current up move of the pair is seen as corrective.
Key Quotes
“EUR/USD is upside corrective and so far has reached the 1.1032 200 day ma”.
“It remains bid and there is scope for the 1.1087/97 September low and 28th October high”.
“Currently we remain unable to rule out an advance towards key resistance, which remains the 1.1228/17 2014-2015 downtrend and 55 week ma and while we it is possible that these are retested we look for the market to fail here”.
Key Quotes
“EUR/USD is upside corrective and so far has reached the 1.1032 200 day ma”.
“It remains bid and there is scope for the 1.1087/97 September low and 28th October high”.
“Currently we remain unable to rule out an advance towards key resistance, which remains the 1.1228/17 2014-2015 downtrend and 55 week ma and while we it is possible that these are retested we look for the market to fail here”.