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Karen Jones, an badyst at Commerzbank, says the EUR / USD has rebounded from November's low of 1.1267 and rallies are expected to find initial resistance at 55 days (1.402) and last week's high at 1 pm , 1442, which protects the downtrend of 2018 to 1.1503.
Key Quotes
"A failure at 1.1267 will result in losses at the recent lows of 1.1216 and the Fibonacci retracement at 61.8% from the 2017-18 advance to 1.1186. In case of failure, the lows of the end of May and June 2017 would be fixed at 1.1119 / 10. "
"A close above the November high of 1.500 and the downtrend of 1.1503 will be needed to eliminate the downward pressure."
"Long-term trend (1-3 months): An increase from the recent peak of 1.1625 would confirm a reversal of the trend and bring the 55-week moving average to 1.1836 on the charts. "
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