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Forex Flash: S&P 500 looks bearish ahead - Nomura

Nomura Strategist Saeed Amen has taken a look at the S&P 500 from a purely technical perspective.

He begins by noting that on the week, spot is lower and he is flipping to a bearish view. Looking at a daily chart he sees that having failed to break the upper Bollinger Band twice this week, he thinks that a short term top has been reached. he sees that Bollinger Bandwidth is low, suggesting that it is likely to range. Further, he adds that RSI is also fairly neutral, which is supportive of range trading. He sets his target at 1491 where the lower Bollinger Band lies.

Forex: EUR/USD testing support at 1.3037/38

An earlier upside attempt that was capped by the 1.3102 region (session high), the EUR/USD broke lower, surrendering its gains and plunging into negative territory. With the release of economic data in the EMU, the pair is being propped up by support, currently testing the area of 1.3037/38 in these moments (previously the cross fell below initial support at 1.3052).
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Forex Flash: A dollar bid seems likely to end the week - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the US equity market ended soggily after being strong during the day.
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