FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, discusses EUR/USD outlook.

“EUR/USD last week sold off and bounced off the 55-day ma at 1.2086. It is possible that this was an ‘a -b-c’ correction lower that has completed and we will have to neutralise, as it is possible that the markets next move will be on the topside, however the Elliott wave counts remain neutral or even negative and for now we are side lined. Below the market we have 1.2014 the September high and the 1.2003 2020-2021 uptrend, which we suspect will hold.”