Ivan Zhigalov
Forex news, Euro rate. Further prospects of European currency seem rather ambiguous for investors. Short-term expectations of some traders bear positive character, and others choose neutral position. However, the majority keeps having absolutely non-optimistic thoughts about the future of European currency.
According to the analytics of Capital Economics, Euro rate will keep falling. There is high likelihood that the rate will drop even more due to the prospects of monetary policy held in Eurozone as well as the risk of collapse of European Union. As analytics predict, by the end of 2012 Euro will drop to 1.10. Experts express confidence that the policy of ECB, aimed at reducing the buying volume of government bonds, will bring more fear of debt crisis. In addition, the fear of numerous defaults will put even more pressure on Euro.
Euro rate continues a rising trend by wave с(С) of Elder’s Hound/MF figure. According to the experts of Masterforex-V Trading System , bottom targets and their strong support are provided by 1.2613 point and 1.2564/1.2571 range. Top targets will arise when there appear such signals of mid-term trend reversal as passing sloping channel MF 1.3072/1.2877 and pivot MF 1.2877.
Ivan Zhigalov
