I was expecting that USD may test 82 level but it did less. Though still it can act on both the patterns which I said in my earlier weekly reviews. What I think that if it follows last two day’s moves then it has more chance to test higher levels in middle to later part of the coming week. But if things become negative and it drops continuously then it will trigger the negative pattern if it drops below 78. Before that 79 is a support level for it.
In another way I will say that it will not act on that bullish pattern if it breaks 78 in the lower side and it will not act on negative pattern if it breaks 82 on the higher side. So this 78–82 becomes an important zone for it. I think person who has created long positions, for them 78 is the important level.
(For this week’s review see – World Equity Market: Currency market review (weekly) after 16th ...)
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