Bloomberg have collated a few nervous comments from analyst on the EUR/USD rally.
- says at 9 days of gains up its the longest rally in nearly 10 years
- reached an almost three-month high
But now:
- some strategists are urging caution and technical gauges are flashing warning signs.
On the T/A,
- the tech gauge they cite is the RSI, which currently appears to be overbought
- but also says EUR has broken key resistance levels
Call me thick but if something breaks 'key resistance' that means it goes up, right?
Anyway, onwards!
- Citi reckons now is a good time to take some profits even though remains bullish
- ABN Amro says it is premature to expect a "continued strong rally" in the currency as "difficult discussions" are ahead on the European Commission's stimulus program
There is plenty more at the article, link here.