I was expecting EURO to test lower levels in the later part of the week but it reversed its position in the last day of the week. I still think that EURO is going to react on its pattern provided it doesn’t cross 1.35 in the upside. I have a feeling that it is going to test lower levels in middle to later part of the week. If this pattern is true then we may see EURO at around 1.25 in coming future. Therefore its long-term pattern which says that EURO will be around 1.15 may become true.
On the other hand if it breaks 1.35 considerably then it may test 1.42 level in coming future. I will think about its upside when EURO crosses 1.36, investors who took short positions may think about covering their positions if Euro breaks 1.36.
[EURO is given against US dollar, unless specifically told.]
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