Forex Flash: Bearish technicals for EUR/USD – Nomura
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EUR/USD
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen gives hive outlook of the EURUSD from a purely technical perspective.
Looking at a daily chart, Amen notes that spot is close to the downside intraweek target, but is now virtually unchanged. He highlights that spot was unable to break upwards through the 200 MA. Also, Bollinger bandwidth has come off, indicating that spot is likely to range with a retracement to the lower part of the range likely. He notes that RSI (14) has ticked back lower, suggesting that we have reached a top. He holds a 1.2635 target for the week ahead.
Looking at a daily chart, Amen notes that spot is close to the downside intraweek target, but is now virtually unchanged. He highlights that spot was unable to break upwards through the 200 MA. Also, Bollinger bandwidth has come off, indicating that spot is likely to range with a retracement to the lower part of the range likely. He notes that RSI (14) has ticked back lower, suggesting that we have reached a top. He holds a 1.2635 target for the week ahead.
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