04.05.2015 - We expect a decline of the euro
The price of euro after reaching the resistance level at 1.1280 has started to correct downwards and after some consolidation near the level of 1.1200, continued to decline. In the near future the price is likely to fall to the lower boundary of the rising channel and reach the support at 1.1050. Fixing the prices below this level will be the basis for opening short positions with the targets at 1,0900, 1.0700 and 1.0500. A possible rise in the euro is limited by the resistance level at 1.1280. We maintain a medium-term negative outlook and expect continuation of falling the price of the euro soon.