EUR/USD: Scope for a deeper recovery to 1.0198/1.0201, potentially 1.0350/90 – Credit Suisse
Weekly momentum for EUR/USD is starting to turn higher. Thus, analysts at Credit Suisse expect the pair to test the 1.0198/1.0201 resistance zone, potentially 1.0350/90.
Move below 0.9704 needed to reassert the core downtrend
“We see scope for a deeper recovery to 1.0198/1.0201, potentially 1.0350/90, but with this latter area expected to prove a major cap.”
“Below 0.9704 is needed to reassert the core downtrend for a fall back to support at 0.9592/37, with support then seen next at 0.9331/03.”
“Weekly MACD momentum has crossed higher to add weight to our view of lengthier consolidation and probably a deeper recovery.”
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.