Home EUR/USD: Bear Flag Breakdown: Levels & Targets – Nomura
Forex News Today: Daily Trading News

EUR/USD: Bear Flag Breakdown: Levels & Targets – Nomura

The euro managed to stabilize after the recent SNB-related falls, but it is probably not over.

The team at Nomura looks into the charts, sees a bear flag breakdown and  provides levels and targets:

Here is their view, courtesy of eFXnews:

EUR/USD’s new firm resistance zone now stands at 1.1754/1864 as the market tested the higher band but only to fail back into its major downtrend, notes Nomura.

The bear flag resolved lower in idea fashion and now extension and wave targets point lower still to 1.1350,” Nomura projects.

This 5th wave lower from 1.26 would equal wave-3 at 1.1350. Another projection technique is .618 * waves- 1 through 3 and that also yields a target of 1.1350,” Nomura adds.

Bear flag breakdown on euro dollar January 19 2015 Nomura technical analysis

For lots  more FX trades from major banks, sign up to eFXplus

By signing up to eFXplus via the link above, you are directly supporting  Forex Crunch.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.