17.07.2014 - The price of euro can rebound upwards

The price decline of euro stopped near the lower boundary of the local descending channel and now is consolidating around the strong the level of 1.3530. In case of consolidation below these levels, the price will continue to decline to 1.3400. Despite our positive medium-term outlook, we expect the price rebound and recommend to open long positions with the targets of 1,3560 and 1.3590. Stop is recommended to be set below 1.3520.

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