EURUSD Intra-Day Technical Analysis - stop near key support for the bearish breakdown to be continuing
Forecasts

EURUSD Intra-Day Technical Analysis - stop near key support for the bearish breakdown to be continuing

26 October 2015, 13:11
Sergey Golubev
Sergey Golubev
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Skandinaviska Enskilda Banken made intraday technical forecast for EUR/USD pair estimated new support level around 1.08 with stop loss at about 1.15:

"With additional selling on Friday prices broke and closed below the March support line, the floor of the large bear flag. The break now suggests that we have left the seven months long correction having resumed the longer term underlying bear trend. The next key support is 1.0869- 1.0808. Short term there is however a growing risk for at least a minor reaction higher. Lower the stop from 1.1510 to 1.1306."

From the technical point of view - the intra-day price was stopped by 1.0996 support level on the way to the bearish breakout to be continuing, and reversal resistance level is 1.1339.
#eurusd, technical analysis, SEB