EUR/USD Intra-Day Technical Analysis - secondary correction may be started within key levels

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Sergey Golubev, 2015.10.15 11:11

Outlooks For EUR/USD: Sell Signal - SEB (based on efxnews article)

Skandinaviska Enskilda Banken made a technical forecast for EUR/USD pair related to intra-day and day basis:

• "The buyers continued to be in control pushing prices up close to the 1.15 handle. With 1.1476 achieved also the ideal target point for a three wave upside correction (from the early Sept low point), a-b-c, has been fulfilled. So if the past month and a half is a corrective climb, well then it should end right here and now."
  
• "We are keeping a close eye on 1.1461 as its break kicks off an hourly sell signal and confirming an hourly RSI bear divergence."

Thus, SEB is estimating two key levels for this pair: 1.14 in intra-day base and 1.15 on long term situation. Anyway, the bearish AB=CD pattern was formed on W1 timeframe together with the bearish retracement pattern so we can expect more bearish situation with this pair in the few coming weeks for example.

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Sergey Golubev, 2015.10.16 09:35

3 reasons to sell EUR/USD - BNP Paribas (based on efxnews article)

BNP Paribas suggested to make a short with EUR/USD with 1.0900 target and 1.1630 stop loss, and it is based on 3 fundamental reasons:

• "Further risk-on – Eurozone capital outflows resume and markets start to reprice Fed hikes = EURUSD lower."
• "Stable risk – Without a strong impulse from risk sentiment, the eurozone’s trade surplus is probably still putting some natural upward pressure on EURUSD. But with valuations already expensive, EUR funding should be more attractive = no clear signal for EURUSD."
  
• "Return of risk-off – EURUSD continues to rally, which forces the ECB to step up dovish rhetoric and ultimately ease policy = EURUSD first higher, then lower."