17.08.2016 - According to our estimates the euro will correct within the channel

Price of euro yesterday has shown strong growth after some consolidation after broke through an important resistance level at 1.1200 and reached the upper boundary of the local rising channel and 1.1300. In case of continued growth, closest target will be 1.1400. Today is possible reduction within the channel to the level of 1.1200. Our medium-term outlook remains negative with potential targets at 1.0700 and 1.0550 and we are waiting for a decrease in the near future.

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