2 Dec 2013
Flash: EUR/USD technical indicators still constructive - BBH
FXstreet.com (Barcelona) - EUR/USD technical readings are still constructive, according to Marc Chandler, Global Head of Currency Strategy at BBH.
Key Quotes
"Maybe it was the lack of participation in the second half of last week, but the euro's (upside) momentum appeared to stall around $1.36. A retracement of the euro's fall from the $1.3830 area is found near $1.3630, which also corresponds to the top of the Bollinger Band. The technical indicators we look at are still constructive for the single currency. A break to the upside would encourage another run at the $1.38 area."
Key Quotes
"Maybe it was the lack of participation in the second half of last week, but the euro's (upside) momentum appeared to stall around $1.36. A retracement of the euro's fall from the $1.3830 area is found near $1.3630, which also corresponds to the top of the Bollinger Band. The technical indicators we look at are still constructive for the single currency. A break to the upside would encourage another run at the $1.38 area."