08.04.2016 - We expect a strong movement of the euro after the consolidation

Price of euro after several unsuccessful attempts to overcome the resistance level at 1.1400, continues to consolidate below it. After a long consolidation, there is a high probability of strong price movement. The growth in the near future is limited by the level of 1.1500. The signal for opening short positions will be the price fixing beyond the ascending channel. In this case, the closest target levels will be 1.1200 and 1.1050. Our medium-term outlook for the euro is negative.

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