03.09.2015 - We expect the euro to decline to 1.1000

The price of euro broke through the sloping support line and dropped to 1.1100. Fixing the price below 1.1200 is the basis for further price decline to the target levels at 1.1080 and 1.1000, after which the negative dynamics may continue to 1.0850. Within the correction quotations may rise to 1.1200 and 1.1300. We recommend to open short positions and forecast a strong increase in volatility tomorrow in connection with the publication of statistics on the US labor market. We also maintain our medium-term negative outlook.

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