14.05.2014 - The euro rebounded from the support
The price of euro continued to fall sharply on the background of the statement by the head of the ECB Mario Draghi on the introduction of additional measures to deal with low inflation, which threatens economic recovery in the euro area. New measures can be taken in June that together with the reduction of quantitative easing program in the U.S., gives reason to expect further price drop euros. At present moment the price rebounded from the strong support at 1.3700 and corrected upwards. We expect that within correction the price can reach 1.3760, but keep medium and long term negative outlook for the pair. A signal to sell will be price fixing below 1,3700.