29.04.2016 - The euro is trying to overcome the resistance at 1.1400

Price of euro showed steady growth after rebounded from the lower boundary of the descending channel. As a result, quotations broke through the upper limit of the downward channel and reached the strong resistance level of 1.1400 and consolidation above this level will become a signal for further growth of price with the objectives at 1.1500 and 1.1620. On the other hand, in case of opening short positions with potential target at 1.1200, the stop must be installed above 1.1400. Our medium-term outlook remains negative.

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