27 Feb 2015
SEB: EUR/USD next target 1.0840 – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB’s technical outlook for EUR/USD, expecting the pair to target 1.0840 next.
Key Quotes
“Finally a directional move. With the break of 1.1262 the green light has been given for a move down to a fresh trend low.”
“The triangle’s theoretical target is 1.0840 (minimum target is marginally pass the recent low point 1.1098) so there should be ample of room for the pair to move lower in the near term. However as triangles often tends to be the last congestion in a trend move the following low point (below 1.1098) will also be a somewhat more lasting one creating the foundation for a profound bounce (back to 1.15?).”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Finally a directional move. With the break of 1.1262 the green light has been given for a move down to a fresh trend low.”
“The triangle’s theoretical target is 1.0840 (minimum target is marginally pass the recent low point 1.1098) so there should be ample of room for the pair to move lower in the near term. However as triangles often tends to be the last congestion in a trend move the following low point (below 1.1098) will also be a somewhat more lasting one creating the foundation for a profound bounce (back to 1.15?).”
This content has been provided under specific arrangement with eFXnews.