03.06.2015 - The euro is likely to fall to 1.1000 in the near future

The price of euro after breaking through the upper boundary of the descending channel shown steady growth and has overcome the local maximum at 1.1000, which was the basis for the continuation of the upward movement. As a result, quotations reached a strong resistance level at 1.1200, but after several failed attempts began to decline. In the near future the price is likely to fall further to 1.1000. In case of renewed growth, the price can rise to 1,1450-1,1500, but breaking through these levels is unlikely. Our medium-term outlook remains negative and we expect the price decline to the levels of 1.0700 and 1.0550.

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