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5 Apr 2013
Forex Flash: EUR/USD technically bullish - Nomura
FXstreet.com (Barcelona) - Nomura strategist Saeed Amen has taken a look at EUR/USD for the week ahead from a purely technical perspective.
He begins by noting that spot is a touch lower on the week and he is bullish. Looking at a daily chart he notes that with spot breaking about the 200 SMA, it suggests that momentum is on the upside. Further, he adds that RSI is relatively elevated with the past few weeks. Elsewhere he adds that bandwidth is quite low and it is likely that spot will range from here. He writes, “Hence, our target is relatively close at 1.3000.”
He begins by noting that spot is a touch lower on the week and he is bullish. Looking at a daily chart he notes that with spot breaking about the 200 SMA, it suggests that momentum is on the upside. Further, he adds that RSI is relatively elevated with the past few weeks. Elsewhere he adds that bandwidth is quite low and it is likely that spot will range from here. He writes, “Hence, our target is relatively close at 1.3000.”