I think still investors are creating lot of short positions in EURO, especially in those higher levels of this week. So if that is true then we are going to see more drops on EURO in coming days.
As I said in my last week review that 1.31 level is very important for EURO, but it is still in that range. The pattern which I said in the last day is becoming more prominent. I am not sure that whether it will take more time or it is going to react in coming days. But as I said in my last week review that if it becomes true then it will be strengthening my earlier view of 1.15 level for EURO. In the upside if it breaks 1.36 then we may talk about 1.42.
(For this week’s review see – World Equity Market: Currency market review (weekly) after 9th ...)
NOTE : Please see the disclaimer of this blog.