02.02.2015 - Volatility of the euro remains very low

The price of EUR/USD keeps consolidating near the level of 1.1300. Prolonged movement within a narrow corridor is a precondition for a strong price movement in the near future. In case of breaking through the level 1.1400, we expect the price growth to 1.1550 and 1.1620. In case of continued downward movement in the descending channel, we expect reaching the target levels of 1.1100 and 1.1000. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.1620.

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