8 Jun 2015
SEB: EUR/USD downside pressure intact while below 1.1233 – eFXnews
FXStreet (Barcelona) - The Technical Strategy Team at SEB shares that the weekly downside pressure remains intact for EUR/USD while the pair trades below 1.1233 levels, as noted by eFXnews.
Key Quotes
“The sought bid areas (1.1175 & 1.1113) were both passed after the stronger than expected NFP. The decline also made the pair end the week below the weekly mid body point (of the falling benchmark candle a fortnight ago) 1.1233 hence keeping weekly downside pressure intact (a lower high this week and the correction should be completed).”
“In the hourly graph a bearish triangle has been created since the low point Friday afternoon so more selling should be in the pipeline.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The sought bid areas (1.1175 & 1.1113) were both passed after the stronger than expected NFP. The decline also made the pair end the week below the weekly mid body point (of the falling benchmark candle a fortnight ago) 1.1233 hence keeping weekly downside pressure intact (a lower high this week and the correction should be completed).”
“In the hourly graph a bearish triangle has been created since the low point Friday afternoon so more selling should be in the pipeline.”
This content has been provided under specific arrangement with eFXnews.