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21 Feb 2014
Flash: EUR technicals are bullish - Scotiabank
Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank
said the EUR is likely to come under additional pressure if Monday’s CPI print is weaker than expected. We hold a year‐end 1.2500 EUR forecast. However, as long as today’s close is above the February 18th open of 1.3707 technicals will remain bullish
Key Quotes:
"EUR/USD short‐term technicals: bullish—technicals have not shifted into sell territory in tandem with the drop in spot and as long as today’s close is above the February 18th open of 1.3707 technicals will remain bullish; warning of a test up to 1.3800."
said the EUR is likely to come under additional pressure if Monday’s CPI print is weaker than expected. We hold a year‐end 1.2500 EUR forecast. However, as long as today’s close is above the February 18th open of 1.3707 technicals will remain bullish
Key Quotes:
"EUR/USD short‐term technicals: bullish—technicals have not shifted into sell territory in tandem with the drop in spot and as long as today’s close is above the February 18th open of 1.3707 technicals will remain bullish; warning of a test up to 1.3800."