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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 and expects spot to be bullish for the week ahead.

Looking at a daily chart he notes that spot is down on the week but he is retaining his bullish view. First he notes that bandwidth is relatively static, indicating that price action is likely to range. Hence, he adds that a continuation of the move higher within the range seems likely. He writes, “Also the RSI has bounced from low levels, indicating short-term upward momentum. Our target is 1.3070 (above 200D SMA).”

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