26 Mar 2014
EUR tell tale signs - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes the cross over of MA’s and explains fundamentally the case for EUR/USD.
Key Quotes:
"The foreign exchange market remains subdued. The euro has returned to the middle of three-quarters of a cent range that has mostly confined the single currency this week."
"This range affair follows the large two-day sell off last week on the back of the FOMC and seemingly more hawkish tinge, which has been largely left to stand in the speeches by a number of Fed presidents. Technically, yesterday the euro's 5-day moving average crossed below the 20-day average, a useful guide of the near-term trend, for the first time since February 10."
Key Quotes:
"The foreign exchange market remains subdued. The euro has returned to the middle of three-quarters of a cent range that has mostly confined the single currency this week."
"This range affair follows the large two-day sell off last week on the back of the FOMC and seemingly more hawkish tinge, which has been largely left to stand in the speeches by a number of Fed presidents. Technically, yesterday the euro's 5-day moving average crossed below the 20-day average, a useful guide of the near-term trend, for the first time since February 10."