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Forex Flash: EUR/USD to drop to 1.2150 – MIG Bank

By FXstreet.com,  July 09, 2012, 10:50:00 AM EDT

FXstreet.com (Barcelona) - MIG Bank analysts expect the EUR/USD to further extend the bearish bias to 1.2150, where a brief period of consolidation would take place afterwards ahead of more downside. "Last weeks break under 1.2288 has significantly weakened the longer-term structure bolstering our view that the ultimate target for this move is the support of a multi-month falling channel somewhere in the region of 1.0800", wrote analyst Bijoy Kar.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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