Euro Set for ‘Long-Term’ Drop to 2008 Low: Technical Analysis

By Candice Zachariahs
Dec. 8 (Bloomberg) -- The euro may have a “long-term, multi-month” drop toward its 2008 low, falling below support at $1.4625, BNP Paribas SA said, citing trading patterns. The single currency declined 1.3 percent on Dec. 4, the most since June 15, triggering a break of the currency’s uptrend in March, Andrew Chaveriat, a technical analyst at BNP Paribas in New York, wrote in a research note yesterday.

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Sell Euro Versus the Dollar, Citigroup Says: Technical Analysis
By Anchalee Worrachate
Dec. 7 (Bloomberg) -- Investors should sell the euro against the dollar should it reach $1.4829 as trading patterns suggest the U.S. currency may see “a serious rally” in coming weeks, according to Citigroup Inc.The euro may fall to $1.41, which is its 200-day moving average, a team of analysts including Tom Fitzpatrick in New York wrote in a report today. Investors should exit the trade if the common currency rises to $1.5070, it said.

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