EURO surprise me little this week, though I was sure that it will not cross 1.34 level.
Now if it continues these moves then EURO can easily test higher levels in early days of the coming week. It will face resistance at 1.34. If EURO crosses 1.35 then it may trigger a pattern which can take it towards 1.42. I will think about its upside when EURO crosses 1.36, investors who took short positions may think about covering their positions if Euro goes level above 1.36.
Though EURO is moving in between a range but I think situation may different in longer timeframe, if macro things go this way. It has still chance to test lower levels, which can take EURO near 1.25 range. Therefore its long-term pattern which says that EURO will be around 1.15 may become true.
[EURO is given against US dollar, unless specifically told.]
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