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3 Mar 2014
Flash: EUR/USD technicals constructive - BBH
FXStreet (Bali) - EUR/USD technical indicators are constructive, notes Marc Chandler, Head of FX at BBH.
Key Quotes
"EUR/USD techs are constructive but the two-day rally at the end of last week has brought the euro near the top of its Bollinger band."
"Consolidation or even a small pullback toward $1.3770 early in the week may be seen as a new buying opportunity ahead of the ECB meeting and US jobs data, where the early call is for an increase of about 155k."
"The next immediate target for the euro is the $1.3900 area that was approached just after Xmas, but it is the $1.40 area that poses the next key hurdle."
"The move to new highs for the year did not see the benchmark 3-month implied euro volatility increase. It remains a low vol environment."
Key Quotes
"EUR/USD techs are constructive but the two-day rally at the end of last week has brought the euro near the top of its Bollinger band."
"Consolidation or even a small pullback toward $1.3770 early in the week may be seen as a new buying opportunity ahead of the ECB meeting and US jobs data, where the early call is for an increase of about 155k."
"The next immediate target for the euro is the $1.3900 area that was approached just after Xmas, but it is the $1.40 area that poses the next key hurdle."
"The move to new highs for the year did not see the benchmark 3-month implied euro volatility increase. It remains a low vol environment."