03.11.2014 - The euro reached the target level

The price of euro continued its decline against the strengthening of the US dollar, as well as in connection with weak retail sales data in Germany. Currently quotations reached two-year low and are trying to consolidate below 1.2500. In case of success, quotes will continue to decline to 1.2200 and 1.2000. We recommend holding short positions and to lower a stop to 1.2750. Our medium-term outlook also remains negative due to the absence of signals of changing the negative trend.

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