Commerzbank targets 1.0523 for EUR/USD (Short-Term)

Home / Commerzbank / Commerzbank targets 1.0523 for EUR/USD (Short-Term) FORECAST

Commerzbank, the German bank,  outlook for the EUR/USD:

“Scope remains for a probe into tougher resistance at 1.10/1.1060 – recent highs and the 200 day ma and these should act as an effective near term ceiling. Key resistance remains the 1.1062/91 2014-2016 downtrend and 55 week ma and we view the market as bearish while capped here. Our target remains the 1.0523 recent low. The intraday Elliott wave counts are more positive and upside risks have increased near term”.

Recommended Posts