FX forecast for Feb 1
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[EUR/USD] The euro/dollar pair closed the first month of the year at $1.3860, after a depreciation influenced by budget deficit problems in some European countries; but the situation may change this month, Financial Brains director PhD Sveatoslav Mihalache has told Info-Prim Neo.
The Financial Brains consider that the depreciation of the European currency has slowed down. Short-term graphs as well as daily and weekly graphs come with the proofs: first, the euro appears on the graphs as oversold, and second, very strong support levels have emerged, which may have the euro rebound to $1.42 - $1.43.
The next period will be opportune for purchases of euros, and the levels that should be looked for are comprised between $1.3770 and $1.3870.
[USD/MDL] On Friday the demand for dollars dropped on the internal market and USD didn't manage to conquer the 12.75 lei mark. The relatively low demand and the recent decision of the central bank to raise the key rate will confine the dollar within a trading corridor of 12.40 – 12.50 lei (ask) and 12.70 – 12.75 (ask).
Today the exchange rates will be 12.58 – 12.62 lei (bid) and 12.68 – 12.73 lei (ask).
[EUR/MDL] 17.55 – 17.60 lei (bid) and 17.68 – 17.73 lei (ask).
For further details visit www.fb.md or www.financialbrains.eu