24.03.2016 - Decline of the euro is likely to continue to 1.1050

Price of euro continues a steady decline within a narrow downward channel. Quotes recently broke through the lower boundary of the local rising channel and important support level at 1.1200. This fact was the confirmation of the signal to sell with the potential decrease till target levels at 1.1050, 1.0985 and 1.0850. Our medium-term outlook remains negative and we expect a further decline in the near future.

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