FX forecast for May 18

- [EUR/USD:] After hitting a four-year low yesterday, the euro gained some stability later in the day and rose slightly, however failing to secure positions above $1.24; currently the euro trades at $1.2350 and there are signs that it could rise today, as well, Financial Brains director PhD Sveatoslav Mihalache has told Info-Prim Neo. The pessimistic predictions, which said that after the fall of the $1.2330 level the $1.20 mark was imminent, didn’t come true. All the more reason to consider as excessively pessimistic the predictions that the dollar might equal the euro. However, the euro will not see a true recovery until it has reached at least the $1.25 mark. One of the signs that the common currency could rise is that investors would start closing sell positions, after which, around the $1.26-27 level, they could be reopened. Resistance levels for today: $1.2410; $1.2480. Support levels: $1.2310; $1.2270; $1.2230. [EUR/MDL:] Bid rates predicted for today around 15.63 lei; ask rates around 15.85 lei. [USD/MDL:] Contrary to Financial Brains’ expectations, the dollar continued rising yesterday, as well, trading on the interbank market at 12.72 lei. The causes of this growth are not clear yet. Today the dollar will buy at 12.68 – 12.70 lei and sell at 12.79 – 12.80 lei. For further details visit www.fb.md or www.financialbrains.eu