21.07.2014 - Euro can correct upwards

The price of euro after a long consolidation between the bottom of the descending channel and the level of 1.3530 began to rise. Growth was short, but indicated the possibility of short-term growth the price to the upper boundary of the descending channel and the level of 1.3590, after which we expect continuation of falling the price of euro due to weak economic performance of industry in the region and the strengthening of the U.S. dollar against the improvement of the situation on the labor market and the tightening of monetary policy in the United States. Medium-term outlook remains negative with the target of 1.3400.

Euro Index Technical Outlook

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