Wednesday, September 2, 2009

Commerzbank: euro / pound bear trend

Analysts said Commerzbank, the euro / franc had experienced another heavy session on Tuesday, so now the focus of 200-day moving average at 1.5131. Cross should be fixed above the 55-day moving average at 1.5204, only then can we speak about a continuing upward momentum. Otherwise, the couple may fall to 1.5131 and 1.51. Breakthrough of the last level, though unlikely in the short term, but in any case lead to a drop to the range of min at 1.50.

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