SEB: EUR/USD in the middle of the support zone - eFXnews

By | Updated August 21, 2014 AAA

FXStreet (Łódź) - The eFXnews team comment that the SEB points out that after the EUR/USD crossed the 1.3295 level it continued it descent.

Key quotes

"The pair soon arrived at 1.3250, the 38.2% Fibo support of the entire 2012/14 advance and the theoretical target for the triangle."

"As triangles normally are occurring very late in trending moves the risk of a reversal following a triangle breakout is high so we think it is time to start looking for correctional signs from 1.3250 and downwards."

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