Skip to main content

EURO forecast for coming week ended 24th August, 2012.

EURO is not going anywhere, it is still moving around 1.22-1.24 zone. But this time I am more positive about the up moves than last few weeks. I think that from coming week we may see that Euro is trying to break 1.24 in the upside. Euro is making a short-term pattern which says that it may go around 1.27 if Euro reacts fully on that pattern but this type of pattern has 50% chance of triggering.

Few weeks ago I was talking about a medium term pattern which EURO is forming and if that triggers then EURO has a chance to test around 1.34 level but that is not a short-term play so it will take time for that. But for any up move of that type, EURO needs to break 1.27 convincingly.

On the other hand if EURO breaks 1.22 range then it may again re-test lower levels but if it stays above around 1.20 then we can expect a solid reversal, may be around 1.27 range. On the other hand if it breaks 1.20 then its ultimate test will be 1.187. Long-term pattern demands EURO to go around 1.15 level. But if EURO somehow manages to maintain that 1.187 level then we may expect better days for it in long-term.

[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.