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16 Apr 2015
SEB: USD/CAD seeing a correctional “Double Zigzag” – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares SEB’s intraday technical outlook for USD/CAD.
Key Quotes
“Recent losses alters an earlier straight “A-B-C” correction into a thought more complex “Double Zigzag” (which repeats the “A-B-C” twice before it’s completed. There are Fibo attraction/support below from 1.2245 and lower to consider in this move once the lower end of the cloud 8at market) gives way.”
“Resistance is likely strong in the 1.2385\1.2510-area and only over 1.2667 would end the sequence of lower highs and lower lows to resume the trend.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Recent losses alters an earlier straight “A-B-C” correction into a thought more complex “Double Zigzag” (which repeats the “A-B-C” twice before it’s completed. There are Fibo attraction/support below from 1.2245 and lower to consider in this move once the lower end of the cloud 8at market) gives way.”
“Resistance is likely strong in the 1.2385\1.2510-area and only over 1.2667 would end the sequence of lower highs and lower lows to resume the trend.”
This content has been provided under specific arrangement with eFXnews.