04.02.2015 - The price of euro will likely continue to decline after correction

The price of EUR/USD showed strong growth after breaking through the strong oblique line of resistance at 1.1540 but was unable to continue the growth and currently shows a decline. In case of breaking through resistance at 1.1540, the price will continue to rise with the potential of reaching 1.1620 and 1.1750. The most likely is a continuation of the downward movement. We recommend holding short positions with a stop above 1.1620 and target at 1.1000. Our medium-term outlook also remains negative.

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