The view from CitiFX's technical team
CitiFX Technicals expounds a bullish EUR/USD view via recommending going long from 1.2125 with a target of 1.25+ (possibly before the end of the year) and a stop loss at 1.1985.
"The USD-Index has a potential bearish outside year if it closes this year below 95.03. As with EURUSD we also see yearly momentum turning down from levels similar to those prior turns in 1986 and 2003," Citi notes.
"In addition we can also see a yearly reversal (USD bearish) on the BBDXY (Below 1,177- would be the first ever) as well as the ADXY (Above 106.97-Would also be the first ever)," Citi adds.
