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27 Mar 2015
SEB: EUR/USD to see 1.06 levels next week? - eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB views that yesterday’s bearish key day reversal candle likely signals that EUR/USD might see 1.06 levels next week.
Key Quotes
“A bearish key day reversal candle. With a lower high in place the triangle congestion scenario still remains the most preferred outcome.”
“Ideally the pair should have stalled at 1.0930 (78.6% of the preceding move) but as can be seen the market has had great difficulties holding above that level.”
“With yesterday’s bearish key day reversal the next leg within the triangle is most likely underway and if our assumption is right we should see the 1.06-area being scrutinized next week.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“A bearish key day reversal candle. With a lower high in place the triangle congestion scenario still remains the most preferred outcome.”
“Ideally the pair should have stalled at 1.0930 (78.6% of the preceding move) but as can be seen the market has had great difficulties holding above that level.”
“With yesterday’s bearish key day reversal the next leg within the triangle is most likely underway and if our assumption is right we should see the 1.06-area being scrutinized next week.”
This content has been provided under specific arrangement with eFXnews.