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5 Feb 2016
EUR/USD: focus on the weekly close – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, has emphasized the relevance of today’s close.
Key Quotes
“EUR/USD has accelerated higher following its break of the 2014-2016 downtrend, the 55 week ma at 1.1040 and the 200 day ma at 1.1056”.
“We are approaching the 1.1260 61.8% retracement of the move down from August and the 1.1296 23.6% retracement of the move down from 2014”.
“The weekly close today will be important – a close above here will force us to neutralise our long term bear trend”.
Key Quotes
“EUR/USD has accelerated higher following its break of the 2014-2016 downtrend, the 55 week ma at 1.1040 and the 200 day ma at 1.1056”.
“We are approaching the 1.1260 61.8% retracement of the move down from August and the 1.1296 23.6% retracement of the move down from 2014”.
“The weekly close today will be important – a close above here will force us to neutralise our long term bear trend”.