Back
10 Mar 2014
Flash: EUR/USD may see pullback towars 1.3780-$1.3825 - BBH
FXStreet (Bali) - According to Marc Chandler, Global Head of Currency Strategy at BBH, a move back into the $1.3780-$1.3825 band is likely.
Key Quotes
"The rally in the second half of last week, left the euro stretched. This is illustrated by the fact that it spent the pre-weekend session above the top of its Bollinger Band (two standard deviations about the 20-day moving average).That last time it did anything close to this was in mid-September last year."
In addition, its proximity to the psychological and technically significant $1.40 area may change the risk-reward calculations for many participants. This is not to say that a deep pullback is necessary, but we can see a move back into the $1.3780-$1.3825 band."
Key Quotes
"The rally in the second half of last week, left the euro stretched. This is illustrated by the fact that it spent the pre-weekend session above the top of its Bollinger Band (two standard deviations about the 20-day moving average).That last time it did anything close to this was in mid-September last year."
In addition, its proximity to the psychological and technically significant $1.40 area may change the risk-reward calculations for many participants. This is not to say that a deep pullback is necessary, but we can see a move back into the $1.3780-$1.3825 band."