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3 Aug 2015
EUR/USD: bears still in control – BBH
FXStreet (Edinburgh) - The research team at BBH expects the pair to resume its downside, with the initial support parked around 1.0950.
Key Quotes
“The euro's five-day moving crossed above the 20-day average a day before the FOMC statement”.
“After the Q2 GDP data and a threat that the Greek government would collapse saw the euro briefly trade below $1.09”.
“It rebounded with the help of month-end demand and signs that the Greek government will survive until at least September”.
“Both the RSI and MACDs are consistent with a further push higher in the euro, but how fast it reversed the pre-weekend gains, and the relatively soft close suggests the bears are still in control”.
“Initial support is seen near $1.0950. It may require greater confidence of a September rate hike before the $1.08 level can be breached”.
Key Quotes
“The euro's five-day moving crossed above the 20-day average a day before the FOMC statement”.
“After the Q2 GDP data and a threat that the Greek government would collapse saw the euro briefly trade below $1.09”.
“It rebounded with the help of month-end demand and signs that the Greek government will survive until at least September”.
“Both the RSI and MACDs are consistent with a further push higher in the euro, but how fast it reversed the pre-weekend gains, and the relatively soft close suggests the bears are still in control”.
“Initial support is seen near $1.0950. It may require greater confidence of a September rate hike before the $1.08 level can be breached”.