From GS:
The LT structural setup (wedge from ’12, triangle from ’08) is still intact and suggests an eventual move down to ~1.20. It’s been in a corrective process for nearly three weeks and completed an ABC-type zigzag off the early-Oct. low. From a wave perspective, it’s possible that it’s now in the 5th wave of a sequence that started in May. A minimum target for wave 5 comes in at 1.2395.
Adding bearish EURUSD targeting 1.2395 initially with a view to reach 1.20 eventually and a daily close stop above 1.2800
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