05.06.2014 - The price of euro will probably continue to decline

The price of euro is consolidating between the upper edge of the local descending channel and a strong support level at 1.3590. In connection with the meeting of the ECB on which will decide on new measures to deal with low inflation, we expect growth of volatility of the euro. The signals to buy will be breaking through the upper boundary of the channel and a confirmation will be fixation above 1.3650. If the price will fix below 1.3590, we recommend to open short positions with the targets of 1,3500 and 1,3400. We expect the price decline of euro in the coming days.

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