FX forecast for May 19

- [EUR/USD:] Up to a certain moment the common currency yesterday saw some invigoration, reaching the $1.2440 mark, after Greece had officially received the first tranche of the promised aid. But later in the day speculations that the United States would refuse to contribute to Greece's bail-out package caused euro to hit a fresh low of $1.2150, Financial Brains director PhD Sveatoslav Mihalache has told Info-Prim Neo. The general strike announced by the Greek labor unions for tomorrow, May 20, is expected to negatively influence the EUR/USD pair, however this will be an opportunity for the Financial Brains to purchase euros each time there is a drop, setting medium take-profits of 100-200 pips. This is because, according to Sveatoslav Mihalache, the euro is currently more than oversold and has theoretically reached its “lowest bottom”. [EUR/MDL:] Moldovan currency exchange facilities will buy euro at 15.53 – 15.57 lei and sell at 15.75 – 15.80 lei. [USD/MDL:] According to Sveatoslav Mihalache, investors should be very careful and avoid being driven by emotions in connection with the overestimated dollar on the domestic market. The National Bank doesn't intervene just because it wants the investors to find the balance between demand and offer by themselves; the appreciation of the dollar is excessive and by the end of the month it should rturn to rates around 12.55 lei, added he. Today the dollar will buy at 12.70 – 12.74 lei and sell at 12.85 – 12.87 lei. For further details visit www.fb.md or www.financialbrains.eu.