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Euro May Fall Below 1.0495

Last Friday the world's financial markets closed predominantly on the rise. In Europe as such, Britain’s FTSE 100 grew 1.06 percent up to 7,089.77 points, Germany’s DAX advanced 1.71 percent up to 12,374.73 points, and France’s CAC 40 added 0.6 percent making 5,240.46 points.

In Russia, the MICEX index fell 0.63 percent down to 1,657.02 points and the RTS index – 0.4 percent down to 999.38 points.

In the USA, the Dow Jones grew 0.55 percent to 18,057.65 points, the S&P 500 gained 0.25 percent up to 2,102.06 points, and the NASDAQ added 0.43 percent getting up to 4,925.98 points.

On the NYMEX, the price of WTI oil futures for May rose by $0.85 and made $51.64 a barrel. On London’s ICE, the price of Brent oil futures for May delivery went up by $1.30 and reached $57.87 a barrel.

On the global Forex market, EUR/USD dropped almost to 1.0495, i.e. the bottom boundary of the correction range. If the pair breaks through this level, its sharp decline can continue. With this, it’s not advisable to enter the market at the breakthrough point – the pair may form a double bottom pattern on the daily chart.

Anna Gorenkova
NordFX Analyst

Monday, 13 Apr, 2015 / 1:04

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