31.05.2016 - The euro is trying to change the trend to positive

Price of euro stopped falling and is currently trying to break through the upper boundary of the descending local channel. In case of success, the growth of quotations is likely to continue, and in this case, the first target will be 1.1200. The breaking and fixing the price above this mark will be a signal to buy, and will mean a change of the current negative trend. On the other hand, we still forecast a decline in the near future and maintain the medium-term negative outlook with the first objectives at 1.1050, 1.0985 and 1.0850.

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