Friday, May 1, 2009

Rabobank holds Euro renewed decline

Single European currency continues to feel the impact of sales of euro / pound, and is currently showing a decrease in the pair to the dollar, given the continued decline in long positions after an unsuccessful attempt to overcome Ofer around $ 1.3330 earlier today. Currency strategists Rabobank note that would not preclude new attempts at growth, but overall technical picture suggests the feasibility of using such sales, given that the pair has remained below the 200-day moving average. In Rabobank also believe that growth investors' optimism in recent times is unnecessary, and see the risks of withdrawal euro / dollar from the current range in the descending direction, in keeping with the forecast for the end of the quarter at $ 1.27 and $ 1.23 at the end of the third.

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