Worldwide Finance & Investment ( Forex )

The time now is Sun May 18, 2008 7:57 am

12th May Tips: Takeshi's opinion : Buy Eur/jpy for >160.50 test today , commodity neutral.

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The euro may rise to a two-week high of $1.5653 against the dollar, said Masashi Hashimoto, a senior currency analyst at Bank of Tokyo-Mitsubishi UFJ Ltd., citing technical charts. The target of $1.5653 equates with the euro's 21-day moving average, a level of so-called resistance where sell orders may be clustered, Hashimoto said. The Moving Average Convergence Divergence, an indicator of momentum, signals there is net buying of the euro, he said. ``The euro seems to have ceased to fall,'' said Tokyo-based Hashimoto at the unit of Japan's second-largest financial group. ``The euro may edge higher to that next target.'' *
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