(Bloomberg) -- The euro may fall to $1.3430 against
the dollar, said Masanobu Ishikawa, general manager of foreign
exchange at Tokyo Forex & Ueda Harlow Ltd., citing charts that
some traders use to predict currency movements.
The single European currency's advance to $1.3659 yesterday
formed a so-called double-top formation, with the previous peak
an all-time high of $1.3681 on April 27. The pattern indicates a
currency may decline, triggering a slide in the euro to $1.3430
in one week, Ishikawa said.
Read more at Bloomberg Currencies News
the dollar, said Masanobu Ishikawa, general manager of foreign
exchange at Tokyo Forex & Ueda Harlow Ltd., citing charts that
some traders use to predict currency movements.
The single European currency's advance to $1.3659 yesterday
formed a so-called double-top formation, with the previous peak
an all-time high of $1.3681 on April 27. The pattern indicates a
currency may decline, triggering a slide in the euro to $1.3430
in one week, Ishikawa said.
Read more at Bloomberg Currencies News
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