25 Jul 2013
Flash: EUR/USD strength to slow – Commerzbank
FXstreet.com (London) - Karen Jones, Head of FICC Technical Analysis at Commerzbank said EUR/USD’ s current strength is expected to terminate ahead of the 78.6% Fibonacci retracement at 1.3275.
Key Quotes:
“We note the TD perfected set up on the daily charts and the divergence of the RSI and slow stochastics on the 240 minute chart and look for failure”.
“The market should react back to 1.3000 and loss of this zone is needed to re-target the 1.2755/40 recent low and April low”.
Key Quotes:
“We note the TD perfected set up on the daily charts and the divergence of the RSI and slow stochastics on the 240 minute chart and look for failure”.
“The market should react back to 1.3000 and loss of this zone is needed to re-target the 1.2755/40 recent low and April low”.