22.09.2016 - Quotes of euro may continue the upward momentum to 1.1350

Price of euro showed strong growth after rebounded from the descending channel's lower border and the support level at 1.1140. As a result, the quotes broke through the upper limit of the local downward channel and the in case of overcoming resistance at 1.1260, will continue to grow to 1,1350-1,1400. The level of volatility according to our estimates will decrease, but will remain elevated. Our medium-term outlook remains negative with potential targets at 1.0700 and 1.0550 and we look forward to the resumption of the negative dynamics in the near future.

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