I was expecting EURO to test level below 1.30. Now it is expected that EURO will follow the bearish pattern and ultimately it will test 1.25 range. Last few days figures reflect an uncertain situation for EURO, so I will not be surprise if it again re-tests level above 1.305. Now in early days if it re-tests higher level then there is a chance that it may drop in later days of the coming week. In that case important level will be 1.29.
But if it tests levels below 1.29 in the early days of the coming week then it has a chance to test higher levels in later part of the coming week. In that case initial resistance will be around 1.28.
I am still holding my long term view on EURO, which says that EURO may test 1.15 level in coming future. Euro is falling from last 8-9 days so a reversal is due. I don’t see that it has much chance to test level above 1.327 in coming days.
[EURO is given against US dollar, unless specifically told.]
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