Euro May Fall to 3-Month Low on Double-Top: Technical Analysis
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The euro may fall to its weakest level since August, Brown Brothers Harriman & Co. said, citing an M-shaped trading pattern known as a double-top formation.
The 17-nation euro is trading near $1.28, where the neck line of the double top comprising the Sept. 17 high of $1.3172 and the Oct. 17 high of $1.3140 lies, said Marc Chandler, the global head of currency strategy at Brown Brothers in New York.