Rebound of the euro and oil expected in the short term
(Easybourse.com) According to technical analysis of Global Equities, Easybourse published on 09 July, a technical rebound of the Euro currency and oil prices is expected in the short term. However medium / long-term downward trend of the European currency and oil remains unchanged.
After the highest historical mid-July for the euro currency and the barrel of Light sweet crude oil in New York, the current trend is downward.
Recall that during the same week in July, the euro had reached a higher dollar to 1.6038, while the barrel of Light sweet crude oil, climbed up to the level of 147.27 dollars.
On Tuesday 12 August, the euro fell sharply to 1. Protected content against the euro, while at the same time, the same day, oil (Light sweet crude oil) was undergoing a correction of over 34 dollars a month, falling to 112.87 dollars a barrel.
Serge Louis Real del Sarte, Europe director at Global Equities contacted by Easybourse believes that "for now the scenario published on July 8 by Global Equities is always in agreement with the latest market developments."
This is evidenced by the Trace experienced oil this week, having already returned nearly $ 2 a day, while the euro since returning to 1 dollar.
In the short term the specialist believes that, according to the analysis graphic July 08, the rebound for a barrel of Light sweet crude oil should reach the threshold of 122.5 dollars, while the European currency is expected to rebound by more than 3 euro 1. Protected content the dollar.
As far as provided Louis Serge Real del Sarte, "it will remain bullish technical rebound on a downward trend" linked to the prospect of an economic slowdown especially in Europe.
In this perspective the "demand shock" will inevitably falling oil prices (market anticipation) and at an estimated level of Protected content .