04.03.2015 - Fall of euro has accelerated

The price of euro after some consolidation near the lower boundary of the descending channel, was able to overcome it and according to our forecasts will soon reach the level of 1.1100 and 1.1000. In case of correction, quotations may grow up to 1.1280. Increase in volatility is expected tomorrow after Mario Draghi statements on monetary policy and on the details of the launch of the quantitative easing program. We maintain our medium-term negative outlook and recommend holding short positions with a stop above 1.1500.

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