23 Mar 2015
SEB: EUR/USD seeing another triangle in the making? – eFXnews
FXStreet (Barcelona) - The eFXnews team shares SEB’s intraday technical outlook for EUR/USD, with SEB viewing that the recent price action suggest downside pressure is easing for the pair.
Key Quotes
“The pair ended last week on a slightly better footing (above 1.0796) almost printing a bullish engulfing weekly candle.”
“Downside pressure is hence seen easing but there’s still several possible wave counts from here and the two ones fitting best at the moment are either a bear triangle (up to 1.0966 and then turning lower) or a bear flag (probably up into the low 1.12’s before turning lower). So look for an initial move higher how things will develop.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The pair ended last week on a slightly better footing (above 1.0796) almost printing a bullish engulfing weekly candle.”
“Downside pressure is hence seen easing but there’s still several possible wave counts from here and the two ones fitting best at the moment are either a bear triangle (up to 1.0966 and then turning lower) or a bear flag (probably up into the low 1.12’s before turning lower). So look for an initial move higher how things will develop.”
This content has been provided under specific arrangement with eFXnews.