05.01.2016 - Price of euro has overcome the strong level of support

Price of euro continues to decline after could break through the strong support level at 1.0800. Fixing the price below 1.0800 will be a signal to open short positions with the targets at 1.0700 and 1.0500. The growth of price within the correction is limited by the boundaries of the channel and resistance at 1.0900. Our medium-term outlook remains negative and we recommend accumulating short positions on the euro.

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