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Forex Flash: EUR/USD looks bullish ahead - Nomura

Nomura Strategist Saeed Amen has taken a look at EUR/USD from a purely technical perspective.

Looking at a daily chart he notes that spot is lower on the week, but he is retaining a bullish outlook. He sees that bandwidth has remained fairly static, indicating that spot is likely to be range bound. He writes, “The inability of spot to break the bottom part of the range suggests we could see a retracement higher. Also RSI is approaching relatively low levels, which have recently indicated a low.” He finishes by setting his target at 1.3450 (20D SMA).

Forex Flash: Euro supported by Weidmann comments - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ comments that the newswires are reporting support for the euro came from the comment from ECB Council Member Weidmann who stated that the ECB will not cut rates to weaken the euro.
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Forex: GBP/USD trading at 1.5487/88 after failed recovery attempt

A recent recovery attempt at the 1.5560 mark was stymied, driving the GBP/USD lower during the late morning of the European session Friday. With weak GBP data leaving a bitter taste in investors mouths, the pair breached support at 1.5500 again, and is now trading at 1.5487/88 at the time of writing, down -0.03%.
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