Commerzbank expects for the euro exchange rate growth vs dollar in the short term

Commerzbank believes in the future of the euro

In brief: Commerzbank is confident in the stability of the euro and dollar weakness. The exchange rate euro / dollar will rise.

The exchange rate euro to dollar will continue to increase. Commerzbank currency analysts say the euro could rise to $ 1.35 against the dollar, provided that the couple will continue to hold above the key level of support.

Euro / dollar rose above $ 1.30 last week, the first time since May 10, reaching an important and key to his level. While the mark of 1.30 may force investors to take a break in the short term, the model Commerzbank “inverted head and shoulders points at $ 1.3120. The bank believes that it may at the expiration of one to three months, correctional movement couples will strengthen and enable the euro / dollar to rise to the 1.3465/1.3510 area (Fibonacci Retracement), after which the euro will start to decline.

Anrey Torbinski
2010-07-19 16:31, Currency news.

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