27.07.2015 - Euro will continue to rise

The price of euro continued to rise, and has broken through the upper limit of descending channel and reached the resistance level at 1.1080. If the price fixates above this mark, the price increase may continue to 1.1200. At the moment, there is the possibility of renewed downward price movement with the first targets at 1.1000, 1.0900 and 1.0800. We maintain a medium-term negative outlook with the reduction potential to 1.0700 and 1.0550, and forecast a strong increase in volatility this week.

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