OctaFX | OctaFX Forex Broker
Open trading account

EUR/GBP: Reinstating tiny longs at the market – Commerzbank

Analysts at Commerzbank recommend opening longs on the EUR/GBP based on technical analysis, as they have seen the rupture of the 6-month downtrend.

Key Quotes

“EUR/GBP has eroded the 6-month downtrend at .8497. The 61.8% retracement at .8380 has recently held 3 times and we suspect that the market might be basing from a longer-term perspective.”

“Attention reverts to the .8606/10 nearby resistance. A close above .8610 is needed to alleviate downside pressure and re-target the .8769 200 day ma.”

“Below .8226 remain the June and October 2012 highs as well as the April 2016 high and the January and February 2014 lows at .8167/18.”


Australia HIA New Home Sales (MoM): 1.5% (December) vs -0.5%

Australia HIA New Home Sales (MoM): 1.5% (December) vs -0.5%
Read more Previous

EUR/USD looks directionless near 1.1060 ahead of data

Th single currency is facing increasing difficulties to regain the upside momentum so far, with EUR/USD now stuck in the 1.1060 following the opening
Read more Next
Start livechat