27.05.2014 - The price of euro bounced up

The price of euro after a long fall bounced up and broke the upper limit of the downward channel and is trying to gain a foothold above it. To continue ascending movement, the price needs to gain a foothold above the nearest local maximum at 1.3670. Further growth is limited by the resistance at 1.3730. We expect the resumption of the downward movement due to forecasted adoption of measures to deal with low inflation from the ECB as soon as on June 5.

Euro Index Forecast

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