Currency Analyst since 2010

Commerzbank: short-term EUR/USD long

Analysts at Commerzbank expect EUR/USD to make a short-term bounce to $1.3200 before sliding to the psychological level of $1.3000. The specialists cite MACD divergence at H4. Resistance is at $1.3155, $1.3222 (Aug. 28 high) and $1.3369 (3-month downtrend).

Commerzbank maintains a long EUR/USD position as a trade recommendation from $1.3120 with revised stop at $1.3080 and a revised target at $1.3220.

Chart. H4 EUR/USD

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