Forex Flash: EUR/USD looks technically bearish – Nomura
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EUR/USD
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at EURUSD from a purely technical perspective.
Looking at a daily chart, Amen notes that spot is up on the week but regardless, he has flipped to a bearish view. He notes that spot repeatedly tried to break 1.3400 and to close above the upper Bollinger band. However, combined with those failures, a downward tick in RSI (14) is suggestive that a short term high is likely to have been reached. Amen has a weekly target of 1.3230, just above the 20 day SMA.
Looking at a daily chart, Amen notes that spot is up on the week but regardless, he has flipped to a bearish view. He notes that spot repeatedly tried to break 1.3400 and to close above the upper Bollinger band. However, combined with those failures, a downward tick in RSI (14) is suggestive that a short term high is likely to have been reached. Amen has a weekly target of 1.3230, just above the 20 day SMA.
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