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31 Oct 2014
SEB: EUR/USD rechecked the neckline - eFXnews
FXStreet (Łódź) - The eFXnews team note that the SEB points to EUR/USD's rebound from yesterday's low of 1.2545 to recheck the break of the “neckline."
Key quotes
"If managing to take out 1.2545 we should also see an almost immediate extension south passing 1.2501 (targeting next 1.2335 (161.8% of the mid Oct decline) – 1.2322 (h&s target)."
"If not managing to break lower will open for an alternative wave count, a bear triangle and as such a bounce toward 1.27/28 will take place before breaking lower, targeting the same area as in the primary scenario."
'This content has been provided under specific arrangement with eFXnews.'
Key quotes
"If managing to take out 1.2545 we should also see an almost immediate extension south passing 1.2501 (targeting next 1.2335 (161.8% of the mid Oct decline) – 1.2322 (h&s target)."
"If not managing to break lower will open for an alternative wave count, a bear triangle and as such a bounce toward 1.27/28 will take place before breaking lower, targeting the same area as in the primary scenario."
'This content has been provided under specific arrangement with eFXnews.'