EUR/USD: Bullish M/T But Looks Stretched S/T; Caution Here – BTMU

BTMU FX Strategy Research retains its medium-term bullish on the EUR/USD targeting the pair at 1.12 by the end of the year, but warns that there is a risk of a snap-back in the short term.

In that regard, BTMU highlights that over the very short-term the EUR/USD rate having advanced by nearly 4% in less than a month and is beginning to look a little stretched.

Based on our real yield model, the EUR/USD spot rate has now moved well outside the 1 standard deviation band which in the past has always signalled a correction in spot the other way,” BTMU notes.

EUR/USD is trading circa 1.0990 as of writing. 

Source: BTMU Research

The article is published by one of the foremost sources of Forex trading information. Link to the original article above.

from eFXNews

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