Cairo – Mubasher: The Egyptian Exchange is forecast to move upwardly towards the 8,500 zone during this week amid speculations on devaluation, analysts told Mubasher.
The market's benchmark "managed to break above the downtrend that started in August 2016", said MubasherTrade Research.
By breaking above the first resistance of 8,300, it is expected to rise towards 8,500, the research agency added.
Likewise, market analyst Ayman Fouda indicated that the main index, by holding above 8,360 points, will likely target the 8,498 – 8,550 zone, while having support at the 8,310-8,240 area.
The benchmark index ended Wednesday in the green territory after gaining 65.4 points, 0.8%, to 8,198.5 points.
