31.03.2015 - Fall of the euro has accelerated
The price of euro continued to fall after breaking through the level 1.0800 and consolidation below the lower boundary of the rising channel. In case of continued downward movement, quotes will overcome the target level of 1.0700 and will reach the support at 1.0500. At the moment, the quotes are moving in the descending channel, and we see no prerequisites for the resumption of the price growth. We recommend holding short positions and maintain a medium-term negative outlook for the euro with the objectives at 1.0500 and 1.0000.