24.05.2016 - We forecast fall of the euro in the near future

Price of euro after a long consolidation has reached the upper limit of the local descending channel, but could not break through it, and as a result has continued to fall. It is worth noting that the price fixing below 1.1200 is a signal to sell with the first targets at 1.1050, 1.0985 and 1.0850. The breaking of the upper boundary of the channel will lead to a further increase in price to 1,1300-1,1400. Our medium-term outlook remains negative and we forecast the fall in the near future.

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