EUR: Increasing chance of seeing a move closer to $1.05 before the end of the year - BBH
|Research Team at BBH, suggests that the next immediate target for the Euro is $1.08 and then $1.0710.
Key Quotes
“The euro broke the trend line off the January, June and July lows on October 12. It retested it from below on seeming confusion during the ECB's press conference (algos?). After setting new highs for the week, the euro reversed lower and posted an outside down day. Follow through selling was seen before the weekend. The next immediate target is $1.08 and then $1.0710.
There is an increasing chance of seeing a move closer to $1.05 before the end of the year. The RSI and MACDs allow for additional dollar losses, though the Slow Stochastics are set to turn higher. The euro closed the week hugging its lower Bollinger Band ($1.0870).”
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