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Trading news
23 Apr 2015
EUR/USD correction an excellent sell opportunity – BAML
FXStreet (Barcelona) - MacNeil Curry, CFA, CMT, Technical Strategist at BofA-Merrill Lynch, sees EUR/USD correction heading into a triangular formation, possibly a sell signal for parity.
Key Quotes
“The correction in €/$ continues to unfold. However, the correction is turning increasingly Triangular (a range defined by two contracting trendlines). This is one of our favorite patterns and should provide an excellent opportunity to go short for a move toward 1.0000 once the pattern completes. For now, stay patient.”
“Gains should not exceed the 55d at 1.0967, while a break of 1.1053 points to a larger correction than anticipated.”
Key Quotes
“The correction in €/$ continues to unfold. However, the correction is turning increasingly Triangular (a range defined by two contracting trendlines). This is one of our favorite patterns and should provide an excellent opportunity to go short for a move toward 1.0000 once the pattern completes. For now, stay patient.”
“Gains should not exceed the 55d at 1.0967, while a break of 1.1053 points to a larger correction than anticipated.”