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06.10.2014 - The price of euro rebounded from the bottom of the channel

The price of euro after a sharp decline on Friday, reached the target level of 1.25, and the lower limit of the downward channel. The reason for the acceleration of decline was the strengthening of the US dollar on the background of positive data on unemployment which fell by 0.2% to 5.9%. Currently quotes started to correct upwards and in case of continuation of this movement can reach the upper limit of the channel and the level of 1.27. Despite the expected correction, we predict a further fall in the price with the mid-term goals at 1.22 and 1.18.

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RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.
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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here
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