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Forex Flash: EUR/USD room for follow through buying - BBH

By FXstreet.com,  January 13, 2013, 05:55:00 PM EDT

FXstreet.com (Barcelona) - With EUR/USD currently near 8-month highs around the 1.3370 area, according to Marc Chandler, Global Head of Currency Strategy at BBH, the pair shows technical prospects that suggest "there is room for follow through buying," the analyst says.

In the other hand, Marc adds: "The one cautionary note is that the euro finished the week above the upper end of the Bollinger Bands (2 standard deviations above the 20-day moving average). The three times it happened in H2 12, the euro fell within a couple of sessions," he concludes.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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