9 Mar 2015
SEB: EUR/USD should soon correct higher – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB gives the intraday technical outlook for EUR/USD, with SEB viewing that a minor upward correction is possible for the pair.
Key Quotes
“Last week ended on a massively bearish footing with the biggest one week decline since 2011. However often after benchmark candles like last week’s/Friday’s there’s a tendency that after a marginally new low the following day at least a minor upside reaction will emerge.”
“Also the fact that the 1.0840 triangle target has been met (and with another Fibo projection point at 1.0778) calls for some caution with selling the coming 1-3 days.”
“If the supports are passed then the 1985 trend line at 1.0150 will come into play.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Last week ended on a massively bearish footing with the biggest one week decline since 2011. However often after benchmark candles like last week’s/Friday’s there’s a tendency that after a marginally new low the following day at least a minor upside reaction will emerge.”
“Also the fact that the 1.0840 triangle target has been met (and with another Fibo projection point at 1.0778) calls for some caution with selling the coming 1-3 days.”
“If the supports are passed then the 1985 trend line at 1.0150 will come into play.”
This content has been provided under specific arrangement with eFXnews.