24.09.2014 - The price volatility of the euro has fallen

The price of euro continues to decline gradually due to the weak macroeconomic statistics in the euro area and the tightening of monetary policy in the United States. At the moment, the price volatility has decreased significantly and the price is consolidating between the support level around 1.2825 and the sloping resistance line. To continue the downward movement, the price should break the level 1.2825. In case of growth, a signal of a trend change will be fixing the price above 1.3000. We maintain a medium-term negative outlook and recommend holding short positions with the targets of 1,2500 and 1,2200.

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