26.02.2016 - We forecast a drop of euro to 1.08

The price of euro against the US dollar resumed its fall after a correction to the upper boundary of the local descending channel. Currently quotes reached an important inclined support line and previously broke through the support at 1.0985. Fixing below these levels will be a strong signal to sell with the target at 1.08, after which the movement can continue to 1.0700. In the case of opening short positions, the stop must be set above the local maximum at 1.1050. We forecast a drop in the medium term.

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