13.04.2016 - We forecast a drop in the euro to 1.1200 and lower

Price of euro after a long consolidation around the level of 1.1400, reached the lower boundary of the rising channel and has broken it. Overcoming local level of support at 113,30, is the reason for opening short positions with a stop above 1.1450 and immediate objectives at 1.1200, 1.1050 and 1.0985. We are forecasting decline in prices in the near future and maintain the medium-term negative outlook.

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