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7 Jan 2015
SEB: EUR/USD downside remains in focus – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB shares that EUR/USD downside remains in focus in absence of any bullish signals, further suggesting that 1.1851 is now the closest support for the pair.
Key Quotes
"EUR/USD: Still depressed, but also stretched. Of the two, trend takes precedence over the stretch and as long as there are no undoubted bullish hints, the downside remains in focus. A Dec-Jan 'Equality point' at 1.1851 is the closest attraction/support to keep in mind now when also the 2010 low of 1.1876 has been taken out. Local resistance also over the 8day 'Tenkan-Sen', now at 1.2035 is needed to show some kind of buyers' initiative."
This content has been provided under specific arrangement with eFXnews.
Key Quotes
"EUR/USD: Still depressed, but also stretched. Of the two, trend takes precedence over the stretch and as long as there are no undoubted bullish hints, the downside remains in focus. A Dec-Jan 'Equality point' at 1.1851 is the closest attraction/support to keep in mind now when also the 2010 low of 1.1876 has been taken out. Local resistance also over the 8day 'Tenkan-Sen', now at 1.2035 is needed to show some kind of buyers' initiative."
This content has been provided under specific arrangement with eFXnews.