FXstreet.com (Barcelona) - Nomura Analyst Saeed Amen delivers his short term views on EUR/USD from a purely technical perspective.
EUR/USD is showing a technically bearish ranging pattern. Viewing a daily chart, the failure to break out on the topside of the upper Bollinger band suggests that a retracement lower may follow and a low bandwidth indicates range bound movement. RSI (14) has topped out suggesting that Spot has reached a short-term top. Amen sees 1.2390 as a target.
EUR/USD is showing a technically bearish ranging pattern. Viewing a daily chart, the failure to break out on the topside of the upper Bollinger band suggests that a retracement lower may follow and a low bandwidth indicates range bound movement. RSI (14) has topped out suggesting that Spot has reached a short-term top. Amen sees 1.2390 as a target.
