Skip to main content

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.


Popular posts from this blog

DAX forecast for coming week ended 15th March, 2013.

This week was very good for Dax, though it is getting resistance at 8100 range. Now it has a chance to test downside again. I think even if Dax tests lower levels, it has more chance to bounce back from around 7800 range and therefore it will again test upside.

On the other hand if it shows flat movements around 8000 range in initial days of the coming week then there is a chance that it may take a decisive call in later days. Considering the recent trends it has the chance to test higher levels may be around 8200 but that will be a very aggressive call after taking in to account the movement from last December. I will worry about the downside when Dax will be testing levels below 7600 ranges.
NOTE: Please see the disclaimer of this blog.

Fed’s rate hike Vs Sovereign rating up gradation

Financial market is very much worried about the rate hike in US, probably this is going to come in coming December. But I think that is not going to change much of the things. Even Fed hikes rate in December it will be not so much, because we are forgetting one thing that interest rate in US is around zero so even they hike rate by 0.25-50% basis points (at most) in this year that will not be enough cause for Dollars to change their locations around the world especially markets have already discounted this coming rate hike in US.

A new disaster is coming in EU banking sector, whom to blame, big Audit firms!

First I was thinking what should be the title of this posting? Will it be good if I write that big audit firms set the time for EU bank collapse! If someone is thinking that financial crisis is over then think twice because the coming EU banking crisis is no way less than 2008 financial crisis. The time bomb will explode at some point of time in future, the time has not yet set for it. In that tsunami, forget about the smaller if any major banks collapse then I will not be surprise.