FX forecast for May 13

- [EUR/USD:] “Each day Europe serves a new dish that the traders find increasingly difficult to digest”, says Financial Brains director PhD Sveatoslav Mihalache. While certain sources yesterday confirmed that Greece received a first installment of €5.5bn of the promised bailout package, and the EU posted a 0.2% growth (humble yet nevertheless growth) of the GDP in the first quarter, these good news were counterbalanced by skeptical opinions from rating agencies. “We heard nothing new from the rating agencies yesterday. But if the greats of the industry – Moody’s, Fitch and S&P – continue to voice the same skeptical opinions, how do you expect traders to behave?”, explained Mihalache. After the EU's GDP growth was published, the euro rose for a certain period of time up to $1.2730, but the rise was short-lived and by the end of the day the euro dropped again to around $1.26. The good news, according to the technical indicators provided by the Financial Brains, is that the euro has no further room for dropping below $1.25; on the contrary, there are signs of a possible growth today, too. [EUR/MDL:] Bid rates predicted for today 15.80 – 15.85 lei; ask rates around 16.00 lei. [USD/MDL:] Bid rates around 12.50 lei; ask rates around 12.58 lei. For further details visit www.fb.md or www.financialbrains.eu