Forex Flash: Euro looks vulnerable on two grounds - BBH (Barcelona) - According to Marc Chandler, Global Head of Currency Strategy at BBH, technical factors favor a dollar bounce scenario this week, with the euro looking vulnerable on two grounds, he says.

Mr. Chandler notes: "First, there is bearish divergence in the daily (14-bar) relative strength index. This means that the indicator did not confirm the strength of the price action. Second, the dominant short-term chart pattern is a potential double top, with the failure to move above the $1.34 area in the second half of the week. The neckline of the double top comes in near $1.3255. A convincing break is needed to confirm the pattern and project around to around $1.31.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.