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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