EUR/USD (Commerzbank) : The Euro could continue to rise on the Forex market during the next few days




Commerzbank think that EUR/USD can still go up on the Forex market during the upcoming sessions.

«EUR/USD has fallen to 1.1730 before resuming the increase. The pair has tested the moving average 55 days at 1.1841 and during the next few days the area of the 1.1880/1.1910 could be reached. Around this area, EUR/USD could once again fail.

A support under the recent low of 1.1730 can be found to the key area of 1.1669/62. A break here would rekindle 1.1613 and would confirm the formation of a top. Such a movement would trigger a fall to 1.1296 and the most important threshold of 1.1110. «



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