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. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Alpari UK enters administration after no buyers found Yohay Elam 8 years 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.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
