Last week I was expecting that Euro may correct less and it was lesser. From middle of 2011, Euro is making lower highs and lower lows and now it is creating a good opportunity to come-out from that trend.
During last few weeks I was talking that Euro may test 1.34 level and now the way it is moving that may become true for Euro. In the last day it crosses 1.31 and may get resistance at 1.32. In spite of 4 straight positive days it has a chance to test around 1.34 level in coming week.
But if it tests 1.34-1.35 levels I am expecting a good resistance in that level so Euro may drop from there. Euro is in over-bought zone so on any correction it may face support at around 1.27-1.28 areas.
[EURO is given against US dollar and it is
market price.] US
NOTE: Please see the disclaimer of this blog.