JP Morgan and Société Générale foresee historical maxima for the euro

According to the experts of Société Générale and JP Morgan, the euro might go so far as to mark new historical records opposite to the dollar if it manages to be consolidated over his level of resistance, which is in the status between the 1,50 and 1,5095 dollars

According to Société Générale, as well as another all the strategic analysts, think that, so that the single currency should reach new historical maxima in his crossing with the green ticket there would be necessary, first of all, the rupture of the status of 1,5290 dollars to 1,5305 to be able to advance up to 1,6038 dollars, marked record last July 15 of last year.

This way, one of the mentioned experts has affirmed that “the support status between the 1,4785 and 1,4790 dollars should contain any downward movement until the euro returns to 1,5050 dollars or 1,5095 ″.

And the fact is that the euro went so far as to raise today up to 0,9 % up to 1,4990 dollars, the level the highest intradía from the last ninth of November. This way, it has managed to advance, from 1,2457 dollars that it marked the last fourth of March, about 20 %. It is for it that technical and investing analysts think that the euro is still provided with trip to be able to mark a new maximum in his principal crossing and escape from the side movements that already characterize the euro / dollar for time.

For his part, the analysts of the American bank also trust in the euro. They have cut his forecasts away on the dollar, on having deducted that the Fed will support the ‘types zero’ until, practically, 2011. JPMorgan augurs new historical maxima for the euro towards the second trimester of next year, about 1,62 dollars (opposite to 1,496 current ones), just before bouncing between 5 % and 10 % in the second half of 2010.

Image CC of marfis75

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