19 Feb 2015
SEB: EUR/USD still remains in the doldrums – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares SEB’s intraday technical outlook for EUR/USD, with SEB noting that the best possible move for the pair from current levels should be a downside exit.
Key Quotes
“No new indications of when to leave the current doldrums were added yesterday. The best fitted patter is still that we are creating kind of a bearish triangle formation (given that we repeatedly are printing both lower highs and higher lows).”
“The resolution should hence be a downside exit but for that view to remain valid the pair cannot trade above 1.1534.”
Key Quotes
“No new indications of when to leave the current doldrums were added yesterday. The best fitted patter is still that we are creating kind of a bearish triangle formation (given that we repeatedly are printing both lower highs and higher lows).”
“The resolution should hence be a downside exit but for that view to remain valid the pair cannot trade above 1.1534.”