Forex Flash: EUR/USD looks technically bullish – Nomura

FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at EUR/USD from a purely technical perspective.

Amen begins by looking at his daily chart and noting that spot is up on the week and he has a bullish view ahead. With bandwidth rising, he sees that it indicates that price is in the midst of a break out. Further RSI indicates that there is bullish momentum. Amen writes, “Spot trading above 1.3400 is also helpful, because it has been an important area of resistance. Our target is 1.3480 (upper Bollinger band).”

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