The price of euro continued to decline and has broken the next target level of 1.2700. Given the strong downward momentum and positive macro in the United States, we expect a continuation of the current dynamics in the near future with a target near 1.2500. In case of correction the price may rise to the inclined line of resistance and the level of 1.2825. Increase in volatility is expected tomorrow after the publication of data on unemployment and the consumer price index in the euro area. We maintain our negative outlook for the medium-term and see no reason for the change of the upward trend.