04.04.2014 - The euro has fallen on the support line

The price of euro declined after the statement of Mario Draghi in which he noted the readiness to implement quantitative easing if deflation risks remain. On this background, the price dropped to a strong support level at 1.3700. A signal to sell will be price fixing below 1,3700. In such case the target prices will be the lower boundary of the descending channel and horizontal support at 1.3640 and 1.3560. Growth is limited by resistance lines at 1.3750 and 1.3810. We expect growth of volatility after the release of data on the U.S. labor market and keep a long-term negative outlook.

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