(Bloomberg) -- The euro may rise to a 15-month high of $1.5285 should it advance beyond so-called resistance at $1.5063, according to Bank of Tokyo-Mitsubishi UFJ Ltd., citing trading patterns. Resistance at $1.5063 represents the Oct. 26 high, which the currency will probably strengthen toward in the next two weeks, said Masashi Hashimoto, a senior analyst in Tokyo at the unit of Japan’s biggest publicly traded bank. The euro’s close last week above the four-week moving average of $1.4869 and the rising trend in other indicators such as the 13-week moving average signal the euro may gain further, Hashimoto said.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a9NRdMOA5X4A
Dollar Stays Below Trendline, May Drop More: Technical Analysis
Bloomberg) -- The dollar will probably extend its decline against the currencies of major U.S. trading partners after staying below a key technical level, according to JPMorgan Chase & Co.The Dollar Index, which IntercontinentalExchange Inc. uses to track the greenback against the euro, yen, pound, Swiss franc, Canadian dollar and Swedish krona, fell today as much as 0.9 percent to 74.679, the lowest level since August 2008. Even as it increased to a high last week of 75.767, the dollar stayed below the trendline tracking its 16 percent drop from the highest level in almost three years, reached on March 4.
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