31.08.2015 - The price of euro falls within the channel

The price of euro show negative dynamics within the local downtrend channel. Currently quotes are near the level of 1.1200 in case of fixing quotations below this mark, we expect a high probability of price reduction to the next targets at 1.1080 and 1.1000. On the other hand, in case of breaking through the upper boundary of the descending channel and a local maximum in the nearest 1.1300, we expect continued growth to the levels of 1.1400 and 1.1500. Our medium-term outlook remains negative and we recommend holding short positions with the targets at 1.0700 and 1.0500.

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