Regardless of the current worth motion, the bull development in EUR/USD is seen unchanged within the medium-term, famous Karen Jones, Staff Head FICC Technical Evaluation Analysis at Commerzbank.
Key Quotes
“EUR/USD got here beneath draw back stress yesterday. It has eroded the 55 day ma and a focus has dropped to 1.2014 the September excessive and the 1.2003 2020-2021 uptrend, which we suspect will maintain.”
“Assuming that the uptrend (1.2003) and 23.6% retracement of the transfer up since March 2020 (1.1945) holds; medium-term the bull development stays intact and targets the 1.2556 2018 excessive and 1.2624, the 200 month transferring common, which stays our long run goal.”
