16.07.2014 - ​Euro falls rapidly

The price of has left euro the limits of the triangle and is consolidating under its lower boundary, which was a signal to sell. The reason for the decline was the weak data on the index of business confidence of the Eurozone, as well as the statement of the Fed chairman about a possible rate hike sooner than was expected by experts, at the same time Janet Yellen noted that the monetary policy will depend on the macroeconomic indicators. We recommend holding short positions until reaching the bottom of the channel and a strong support level at 1.3530, after breaking through which the quotes may continue to decline to 1.3400, but probably at first will correct upwards within the channel.

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