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Forex Flash: EUR/USD looks bearish ahead - Nomura

FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at EUR/USD and notes that the pair is technically bullish ahead.

He begins by noting that spot is down on the week and he is flipping to a bullish view. Looking at a daily chart he notes that spot has been unable to close below its 20D SMA, suggesting that it is downside support. Also, he adds that RSI has stalled, suggesting a short term low has been reached. He writes, “With bandwidth dropping a retracement back higher within the range looks most likely. Our target is 1.3140.”

Forex Flash: Bundesbank explains that the ECB is not the lender of last resort - Societe Generale

Sebastien Galy, Senior FX Strategist at Societe Generale notes that the Bundesbank has explained that the ECB is not the lender of last resorts to European governments.
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Forex: EUR/USD climbed to 1.3040 on US GDP

The bloc currency picked up pace and rose to levels shy of 1.3040 on Friday, after the US economy grew 2.5% on a yearly basis during the first quarter, below the median at 3.0% albeit bettering...
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