11.03.2014 - Euro is preparing to decrease

The price of EUR/USD has reached the level 1.39, but was not able to overcome it. In addition, the quotes started to correct after not breaking through the upper limit of the local rising channel. We expect further price reduction within the channel and recommend to open short positions with the targets 1.3810 and 1.3770. In case of resumption of growth, a signal to buy will be fixation of the price above 1.39. We keep medium and long term negative outlook for the euro.

EUR/USD Index Chart

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