Tuesday, June 16, 2009

Bank of Tokyo-Mitsubishi: euro / dollar may fall to 1.32

According to analysts of Bank of Tokyo-Mitsubishi, in the next few weeks, the euro / dollar may fall to a six-month minimum of 1.32, after the work model "head and shoulders." Yesterday, the single currency fell to so-called line of the neck at the level of 1.38, completing the formation of a model with a top at 1.4338, set on 3 June. "The decline is gaining momentum," - noted in the bank. The immediate objective at 1.3620 - 38.2% correction of this growth, which began March 4 at 1.2457, and ending June 3.

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