24.11.2014 - Euro corrected after a sharp decline

The price of euro fell sharply on Friday, following a statement by ECB President Mario Draghi on intention to strengthen measures against low inflation in the near future. As a result of the strong downward momentum, the price reached the level of 1.2360, but bounced off it and now is corrected upwards. Rising the price within the correction in the near future is limited by the level of 1.2450. Now there are no preconditions to change the negative trend to positive. We expect further price decline in the medium term with the objectives near 1.2200 and 1.2000 and recommend holding short positions with a stop above 1.2600.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.