24.02.2014 - Traders are waiting for data on inflation
After a rebound from the strong support level of 1.37 the price of euro is trading near the lower boundary of the local upward channel. We expect continued growth in prices. Driver for the price increase may be the publication of data on consumer price inflation in the euro area, which will be published at 10:00 GMT. The target price in this case will be the local maximum at 1.3810. In case of renewal of the descending tendency, the signal to open short positions will be fixing of price below 1.37. The target levels in this case will be at 1.3630 and 1.3560.