Europe Economy

Charts: Stocks to Push Higher after Dip; Dollar Lower

The rallies in global stocks and the euro, which have been running since early in the year, have both pulled back in recent sessions, but that is only a temporary setback and the trend should soon continue, Roelof van den Akker, chartist at ING Wholesale Banking, told CNBC. 

Charts: Stocks to Push Higher; Dollar Lower

"We should expect consolidation of the uptrend in line with the equity markets," van den Akker said while looking at a chart of the euro versus the dollar.

"Next horizontal resistance coming in at $1.537 and this large W-pattern is even suggesting a test of the highs of 2008 around $1.60," he said.

Many analysts have noted the apparent tie between the euro and stocks as the two have seen strong gains in tandem throughout much of the year.

Van den Akker thinks the "final rise" in stocks and the euro versus the dollar will happen "within the coming weeks."

- Watch the full interview with Roelof van den Akker above.

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