23.07.2015 - We expect the resumption of the downward price movement after correction of the euro

The price of euro continues to grow gradually within the downward channel and in the near future may continue to rise to its upper limit and the resistance level at 1.1080. Going beyond the descending channel and continued growth to the level of resistance at 1.1200 is unlikely. We expect that the price decline will resume soon. Our target levels are 1.0900, 1.0700 and 1.0550. Our medium-term negative outlook remains negative.

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