14.02.2014 - The euro has come to a strong level

The price of euro has moved beyond the downward channel and reached a strong level 1.37. In case of fixing above this mark, we recommend to open long positions. Target price in this case will be the next strong resistance level 1.3810. In case of correction, the price may drop to 1.3650.

The reason for the price movement in either direction will be the data on the trade balance and preliminary data on GDP growth in the euro area in the 4th quarter of 2013 (10:00 GMT).

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