20 Feb 2015
SEB: NZD/USD correction ending? – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares SEB’s intraday technical outlook for NZD/USD, with SEB noting that NZD/USD correction might have completed and the pair is expected to resume lower.
Key Quotes
“The bearish engulfing candle printed in close proximity to the ideal correction target, 0.7588, indicates that we now might have completed a common three wave (a-b-c) correction and hence stands ready to continue the underlying bear trend.”
“In the hourly chart we can also detect what looks like a possible head and shoulders top. So we’re looking for a break of 0.7507 (neckline) to attract more selling.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The bearish engulfing candle printed in close proximity to the ideal correction target, 0.7588, indicates that we now might have completed a common three wave (a-b-c) correction and hence stands ready to continue the underlying bear trend.”
“In the hourly chart we can also detect what looks like a possible head and shoulders top. So we’re looking for a break of 0.7507 (neckline) to attract more selling.”
This content has been provided under specific arrangement with eFXnews.