16.10.2014 - Euro reached the upper limit of the channel

The price of euro rose against the weakening US dollar and reached the upper limit of the upward channel. Given the weakness of the bulls and the overall negative trend, we expect that in the near future quotes will reach the bottom of the channel, and we recommend to open short-term short positions with the targets near 1.2700 and stop above 1.2825. We also recommend to keep short medium-term position.

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