13.02.2014 - Euro expects fundamental signals for further movement
The quotes of euro dipped yesterday on speculations about the possibility of implementation of negative deposit rates by the ECB, but now almost won back yesterday's losses. Now the price is consolidating near a strong level 1.3630. Further growth is limited by the upper boundary of the descending channel. If the price will fall below 1.3550, we expect that it will go to the bottom of the channel.
Further progress will depend on the ECB's monthly report (09:00 GMT) and data on GDP growth in the euro area, which will be published tomorrow.