9 Dec 2013
Flash: Next technical target for EUR/USD at 1.3800-30 - BBH
FXstreet.com (Bali) - The USD weakness against the EUR does not appear exhausted, notes Marc Chandler, Head of FX at BBH, who expects the next technical target for the euro at $1.3800-30.
Key Quotes
"The only cautionary note from technical indicators is that the euro and Swiss franc are at the top of their Bollinger Bands, which are set +/- 2 standard deviations from the 20-day moving average."
"Although the returns (changes) in currency prices are not normally distributed, a break of the bands may still be seen as reflecting a stretched market. This should encourage buying on the next pullback."
Key Quotes
"The only cautionary note from technical indicators is that the euro and Swiss franc are at the top of their Bollinger Bands, which are set +/- 2 standard deviations from the 20-day moving average."
"Although the returns (changes) in currency prices are not normally distributed, a break of the bands may still be seen as reflecting a stretched market. This should encourage buying on the next pullback."