Forex Flash: Technically, EUR/USD is bearish for the week ahead – Nomura
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EUR/USD
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen gives his outlook for EURUSD from a purely technical perspective.
Amen sets out his weekly target of 1.2650 and notes that spot is lower on the week. Looking at a daily chart he notes that RSI (14) has trended lower indicating downward momentum. Elsewhere bandwidth has expanded rapidly suggesting that it is in a downward breakout. He highlights that spot has also repeatedly tested the lower Bollinger band and closed below the 200 MA for the first time in nearly two months.
Amen sets out his weekly target of 1.2650 and notes that spot is lower on the week. Looking at a daily chart he notes that RSI (14) has trended lower indicating downward momentum. Elsewhere bandwidth has expanded rapidly suggesting that it is in a downward breakout. He highlights that spot has also repeatedly tested the lower Bollinger band and closed below the 200 MA for the first time in nearly two months.
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