15.09.2016 - The euro may fall sharply after the consolidation

Price of euro continues to consolidate within a narrow range 1,1200-1,1260. The breaking and fixing of quotations above this level will be a signal to continue the upward price dynamics to the nearest targets at 1,1350-1,1400. More than likely according to our estimates will be the resumption of the negative dynamics of quotations and consolidation below 1.1200 will confirm the sell signal with the objectives at 1.1050 and 1.0985. Our medium-term outlook remains negative and we are waiting for the signal to open short positions.

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