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EURO forecast for coming week ended 27th July, 2012.

EURO was trying to make a base but in the last day it looks like  EURO was negating that. So what it means that are we going to see more drops in coming days? I don’t know for sure but since it makes a new recent low so there will be pressure in the downside and some of the technical indicators are also saying that it has the option to drop more. I have a feeling that EURO may not drop much, may be around 1.20 but nothing is for sure. Later, if EURO tries to recover some ground then 1.22 will act as a resistance for it.

Here if we consider the long-term pattern then that demands EURO to go below 1.187 but if EURO somehow manages to maintain that then we may expect better days for it. 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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