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Forex Flash: S&P 500 looks bullish ahead - Nomura

Nomura Strategist Saeed Amen has taken a look at the S&P 500 from a purely technical perspective.

He notes that spot is up on the week and he is flipping to a bullish view. Looking at a daily chart he sees that there have been several doji candlesticks which have been ignored, suggesting the momentum is in the topside. He writes, “Bandwidth is very low, indicating the move higher is likely to be a grind, rather than a breakout.” Elsewhere he sees that RSI remains elevated further, indicating topside momentum. He sets his target at 1530 where the top Bollinger Band lies.

Forex: EUR/USD supported by yesterday's lows

The EUR/USD remains pressured as the week ends. Having plunged by 100 pips yesterday, the market found support at 1.3316 low and was pulled to 1.3350. Today, more downside momentum sent the pair back to those lows, printing a new February low at 1.3312. However, the EUR/USD is not ready to extend losses further. Maybe, not yet....
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Forex Flash: Euro supported by Weidmann comments - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ comments that the newswires are reporting support for the euro came from the comment from ECB Council Member Weidmann who stated that the ECB will not cut rates to weaken the euro.
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