24.11.2015 - Decline of the euro may continue until 1.05

Price of euro consolidates above 1.0600 and now has reached the upper limit of the downward channel and in case of breaking through it may rise to 1.0800. A more likely scenario according to our forecast is a continuation of the negative dynamics to the target levels near the level of 1.0500. We recommend holding short positions with a stop above 1.0800, but do not exclude the correction of prices in the near future. Our medium-term outlook remains negative.

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