Mizuho expects resumption of the downward trend of U.S. dollar

On Wednesday, a pair of Euro / dollar returned to the area above the level of 1.4200, after reducing to a minimum of two weeks during the previous days, which analysts believe Mizuho corrective movement. The Bank believes that as soon as possible weakening U.S. dollar will continue: the euro is no longer overbought, while one-implied volatility of near-money increased slightly, with a maximum price of last week is correct, and the mean long-term down trend in the U.S. currency would soon resume. With respect to intraday strategy, analysts recommend buying the bank at the 1.4260 level with stronger positions in the stop order below 1.4200 and 1.4080. Short-term objectives of foreign exchange strategists Mizuho put levels 1.4300 and 1.4400. At this time, a pair of Euro / dollar traded at around 1.4265.