02.12.2014 - Euro resumed the fall

The price of the euro after an attempt of breaking through the level of 1.2500 and a sloping resistance line began to decline. At the moment, the quotes broke through the level of 1.2450 and consolidates below it. We with high probability forecast that in the near future, quotes will reach 1.2360. We recommend holding short positions with a stop above 1.2600 and objectives of 1.2200 and 1.2000. Our medium-term view remains negative due to the soft policy of the ECB and the strengthening of the US dollar.

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