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EURO forecast for coming week ended 20th July, 2012.

Finally EURO touches 1.21 ranges, last few day’s moves suggest that it may be trying to create a base here. If it is making a base then we may see flat to up days in early period of the coming week and EURO may face 1.235 as initial resistance level in the upside. In this period of times it is very difficult to make a call on EURO for a week because situation can change in couple of days.  

Though EURO is in over-sold zone but if it does not show much of a reversal in the upside or if EURO fails to get support in this levels then it can drop but this prediction depends on moves in early days of the coming week.

If we consider that it will drop little more and then reverses its position then there is a chance of making a bullish pattern but still it is an early call, as things can change lot in coming days. Long-term pattern demands EURO to go below 1.187 but if it does not drop below that level then good days are waiting for EURO in future. In the medium term around 1.34 will be the target for EURO for any bullish move.

[EURO is given against US dollar and it is US market price.]

NOTEPlease see the disclaimer of this blog.


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