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17 Apr 2015
SEB: EUR/USD might see a small dip before heading higher again – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB views that EUR/USD might dip lower towards 1.0720 area before resuming its upward climb towards 1.0940.
Key Quotes
“After an initial attempt lower the buyers came as anticipated back pushing prices higher and up to the weekly mid body point at 1.0798 (actually a few points above before settling down).”
“We think that the same kind of behavior is applicable for today so look for a slide into the 1.0720’s before continuing higher, ideally up to 1.0940-ish early next in order to complete wave c within the bear triangle. Ending today below 1.0688 and the 1.0940 move will fade away.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“After an initial attempt lower the buyers came as anticipated back pushing prices higher and up to the weekly mid body point at 1.0798 (actually a few points above before settling down).”
“We think that the same kind of behavior is applicable for today so look for a slide into the 1.0720’s before continuing higher, ideally up to 1.0940-ish early next in order to complete wave c within the bear triangle. Ending today below 1.0688 and the 1.0940 move will fade away.”
This content has been provided under specific arrangement with eFXnews.