Euro / dollar will rise during a short period of time

The euro could not be stable

In brief: Growth in pair of Euro / dollar is possible on short positions. The level of support for the euro by the bears is limited.

The euro may rise again to 1.25 U.S. dollar, but its subsequent consolidation will be restrained, because the pair are not located in an upward trend, said currency strategist of the Brown Brother Harriman.

“We believe that the current correction of the euro might lead to a mark 1,25 dollars, but we continue to assume that this movement represents a correction, not a trend change” – note in the bank. Currently, the euro traded at trading at 1.2320 dollar. Earlier, as a result of corrective rollback euro / dollar reached $ 1.2250 area, dealers report that trading for the pair spotted a great French account. Ofer at $ 1.2250 absorbed. Breakthrough above this mark will open the movement to the area of $ 1.2270. Next on the horizon appears the next major optional barrier near $ 1.2300. On Monday in New York session couple established a high of $ 1.2298, after which the newly made rollback. Dealers also noted buying interest from the semi-official accounts. Presumably, Ofer are in $ 1.2270/85.

Ukrainian Globalist
2010-06-15 23:48, Currency news.

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