Britain- CommerzBank is forced to decline on the intraday basis – Analysis – 25-4-2019

CommerzBank price surprised by the strength of the resistance at 8.26 in the last bullish attack, which forces it to build bearish correctional trading by its approach from the initial support at 7.67, the stability of the price within the bullish channel levels makes us expect renewing the bullish attempts by gaining a new positive momentum, depending on the stability of the initial support, to target 8.05 reaching to 8.35 level in the upcoming period.

While the price reach below the mentioned initial support will increase the chances for resuming the bearish correction, and that increases the chances for reaching 7.48 then wait for testing the bullish channel’s support at 7.21.

The expected trading range for today is between 7.67 and 8.05

The expected trend for today: Bullish