FXStreet Karen Jones, head of FICC Technical analysis at Commerzbank, expects the short-term goal of the pair will be further consolidation.
“The Euro approached the 1,1300 November and we will see a TD perfection. We can expect a consolidation/downside correction below this level. As long as the 1,0970 intact is the direct commandments remain the same.”
“The market has the potential to reach the mid-2016 High of 1,1400. We assume, however, that the Couple will have a long-term fight. In 1,1343 we have yet to see the 78,6% Retracement.”
“The upward trend day MA of 1,0826 is to be expected with a decline to the 200-and should there be a breakage, it will negate the upward pressure.”
** FXStreet News Editorial, FXStreet**