Friday, October 2, 2009

Societe Generale expects growth in the euro / dollar after the correction

Analysts said Societe Generale, correctional reduction pair euro / dollar, which began last week with the level of 1.4845 to wane near the growing line of support in the 1.4255/1.4260 area. The bank believes that if the couple still make a certain breakthrough level of the Fibonacci Retracement 1.4510, the fall will be stopped on the above, then the euro / dollar return to 1.4845/65 resistance in the area. Levels of resistance in the bank put 1.4680, 1.4845/1.4865 and 1.5015, support are at 1.4510, 1.4250/1.4260 and 1.4175. Euro / dollar is now trading at 1.4575.

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