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29 Dec 2014
SEB: EUR/USD sitting on the wedge floor – eFXnews
FXStreet (Barcelona) - The eFXnews team notes SEB shares that EUR/USD trading in a narrow range on top of a wedge floor, further expecting it to make a move downwards.
Key Quotes
“EUR/USD: Sitting on the wedge floor.Despite the move down to a fresh trend low indicators such as MACD and stochastic continues (MACD has repeatedly been doing so since the Oct low point, the end of wave 3) to show a bullish divergence indicating a descent under a slowing momentum. Short term it looks like we’re creating a narrow range on top of the wedge floor so unless moving above 1.2256 the most likely outcome will be another low.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“EUR/USD: Sitting on the wedge floor.Despite the move down to a fresh trend low indicators such as MACD and stochastic continues (MACD has repeatedly been doing so since the Oct low point, the end of wave 3) to show a bullish divergence indicating a descent under a slowing momentum. Short term it looks like we’re creating a narrow range on top of the wedge floor so unless moving above 1.2256 the most likely outcome will be another low.”
This content has been provided under specific arrangement with eFXnews.