06.02.2015 - According to our forecasts euro will resume the decline

The price of euro again approached to the strong resistance level at 1.1500. For the continuation of growth the price needs a substantial stimulus. Fixing the price above $ 1.1500, will confirm the signal for opening long positions with the targets at 1.1620 and 1.1750. According to our estimates, the price will decline in the near future and will reach the lower limit of the local rising channel, and then may continue the fall to 1.1280 and 1.1100. Today we expect a strong increase in volatility after the publication of statistics on the labor market in the US (13:30 GMT). Our medium-term outlook remains negative and we recommend holding short positions with a stop above 1.1620.

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