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16 Mar 2015
SEB: EUR/USD below 1.0480 will confirm resumption of bear trend – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB views that the current bounce of EUR/USD might be confirmed completed on a move below 1.0480 levels.
Key Quotes
“The minor correction higher (triggered by the early Thu false break below 1.0511) was confirmed completed by the move back below 1.0580. Accordingly prices thereafter continued to decline printing a new trend low at 1.0457.”
“The now broken, rechecked and validated 2008 trend line has paved the way for a go at the 1985 (Plaza accord) trend line which is running at ~1.0290.”
“The current minor bounce will be confirmed completed below 1.0480 but will probably initially try to push somewhat higher (1.0565? 89?) before stalling.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The minor correction higher (triggered by the early Thu false break below 1.0511) was confirmed completed by the move back below 1.0580. Accordingly prices thereafter continued to decline printing a new trend low at 1.0457.”
“The now broken, rechecked and validated 2008 trend line has paved the way for a go at the 1985 (Plaza accord) trend line which is running at ~1.0290.”
“The current minor bounce will be confirmed completed below 1.0480 but will probably initially try to push somewhat higher (1.0565? 89?) before stalling.”
This content has been provided under specific arrangement with eFXnews.