Saturday, March 24, 2012

EURUSD Short Term View


EURUSD has the potential to rise upto 1.3350-60 but can be sold on rise. It has a good resistance at 1.4420, a weekly closing above this level can change short term view or else it can come in the range of 1.3020-50. The overall long term bullish view published on 1st January, 2012 (http://goo.gl/s5XJR) remains intact. I had expected a recovery from March 2012, but it gave a good bounce in Jan-Feb 2012 and now in the short term we can see a dip. Thus, from the short term point of view we can sell EURUSD on rise and if you are a long term investor you can wait for a good dip in price to go long on the counter.

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