20.07.2015 - Euro may correct to 1.1000

The price of euro is consolidating near the upper boundary of the local descending channel. In case of breaking through the upper boundary of the channel, confirmation of the signal for opening long positions will be fixing the price above the local maximum at 1.0900. In such case quotations will rise to the levels of 1.1000 and 1.1080. In case of further reduction the price will reach the target marks at 1.0700 and 1.0500. We maintain a medium-term negative outlook, but we can see a correction in the near future.

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