20.09.2016 - We forecast a decline of the euro in the near future

The price of euro shows correction within the local descending channel and came close to the upper boundary and the level of 1.1200. In case of overcoming these marks, we expect a further increase in prices to 1.1260 and 1.1350. The breaking and fixing of price below support at 1.1140, will be the basis for the continuation of the negative dynamics of prices with the objectives at 1.1050, 1.0985 and 1.0850. By the end of the week we will see strong movements in prices. Our medium-term outlook remains negative and we expect a price decline in the near future.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.