FXStreet Karen Jones, head of FICC Technical analysis at Commerzbank, notes that the recent development of the pair shows that the positive prospects have improved.
“The Euro has eroded the 5-month downward trend, the 55-week MA of 1,0929 and the 61.8% Retracement of 1,0974, while one was formed of staff. The commandments remain on the de m100-day MA. The goal of the January 2015 Low of 1,1098 and the 78.6% Retracement of 1,1146. On the 4-hour chart, a Count of 13 and we will buy pullbacks.”
“Under the 200-day MA, there will be losses to the 55-day MA of 1,0706 and 2017 support line of 1,0633.”
** FXStreet News Editorial, FXStreet**