11.08.2016 - The euro will probably continue to decline in the near future

Price of euro has shown growth within the ascending channel and reached its upper limit. In case of continued growth and overcoming the resistance level at 1.1200, we are forecasting further growth to 1.1400, but more likely scenario will be a further reduction of quotations within the channel. In case of opening short positions with the first targets at 1.1050 and 1.0985, the stop must be installed above 1.1200. We forecast a drop in the next few days and keep the medium-term negative outlook.

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