Forex Flash: EUR/USD looks technically bullish ahead – Nomura
Forex pairs in this Article »
EUR/USD
Nomura Strategist Saeed Amen has taken a look at EURUSD from a purely technical perspective.
Spot is up on the week and Amen has retained his bullish outlook. Looking at a daily chart he sees that RSI is continuing to rise and is in overbought territory, suggesting that it is still not at a top. Further, rising bandwidth is suggesting that the breakout is not exhausted. Amen comments that spot has also repeatedly tested the upper Bollinger band and as such he sets his weekly target at 1.3750.
Spot is up on the week and Amen has retained his bullish outlook. Looking at a daily chart he sees that RSI is continuing to rise and is in overbought territory, suggesting that it is still not at a top. Further, rising bandwidth is suggesting that the breakout is not exhausted. Amen comments that spot has also repeatedly tested the upper Bollinger band and as such he sets his weekly target at 1.3750.
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