Market news
09.11.2020, 11:57

EUR/USD: The trend is seen higher again for a move back to the 1.2011 high - Credit Suisse

FXStreet reports that EUR/USD has not only completed a base above 1.1881 but also a large bullish “outside week” and economists at Credit Suisse look for this to act as the catalyst for a resumption of the core bull trend for a move back to the 1.2011 high.

“A strong week for EUR/USD has not only seen bullish ‘reversal day’ established but also a bullish ‘outside week’ and a base above the October high at 1.1881 and with the 13 and 55-day moving averages looking close to also completing a bullish cross, we look for this to mark an end to the consolidation phase from September for a resumption of its core bull trend.” 

“We see resistance at 1.1918 initially ahead of 1.1962/66 and then the 1.2011 September high. Whilst this should again be respected, we look for a break in due course for our 1.2145/55 first core upside objective – the ‘neckline’ to the early 2018 top and 78.6% retracement of the 2018/2020 bear trend. Whilst we would expect a fresh phase of consolidation to emerge here, big picture, we continue to look for strength to extend above 1.2500.”

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location