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EURO forecast for coming week ended 7th September, 2012.

There was a chance of little correction which I said in last week. Now Euro proved its short-term bullish pattern to some extent. In the lower side important support level is 1.24 if Euro breaks that then I will think differently otherwise I am expecting up moves in coming future.

Now I am not sure about its movement in coming week that is in spite of its unpleasant close in the last day from its highest position. For any kind of up moves it needs to break 1.26-1.27 level convincingly.

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 US market price.]

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