EUR/USD’s correction higher failed to penetrate the cloud on the 240 minute chart although it looks not quite ready to resume its downmove yet, notes Commerzbank. “Provided that rebound is contained by the 3 month downtrend this will have no impact whatsoever on the bearish chart,” CB argues. …

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EUR/USD: Base Of Monthly Cloud; AUD/USD: Into 200d AVG – Commerzbank
