Last week I was strongly expecting EURO to break 1.24 level, now in the last day it dropped from the higher levels. I don’t think that Euro is going to test more than 1.24 in the downside and I am expecting more upside movements. Euro is making a short-term pattern though it has already reacted on that but if it fully reacts then it may go around 1.27 level.
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. For any up move of that type, EURO needs to break 1.27 convincingly.
[EURO is given against US dollar and it is
market price.] US
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