The price of euro after upward correction stabilized and is consolidating above the level of 1.26. Currently quotes approached to the upper boundary of the rising channel and probably will start to decrease soon. Nearest target levels are 1.25 and 1.22. Change of the trend is possible in case leaving the channel, and to overcome the level of 1.2825. Tonight is expected the increase in volatility after the publication of minutes of the previous meeting of the Fed. We recommend holding short positions on the euro and maintain a medium-term negative outlook.