01.08.2016 - Price of euro may correct after came close to 1.1200

Price of euro has shown strong growth last few days and approached the important resistance level at 1.1200. In case of fixation above this level, we expect continued growth of quotations with the target at 1.1400. According to our estimates, potential of growth declined significantly and in the near future we can see the correction of price with the first targets at 1.1050 and 1.0985. Our medium-term outlook remains negative with potential targets at 1.0850 and 1.0700.

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