On the price charts (2 hr) it has made what we call a 'Inverse Head and Shoulder' Pattern suggesting that the sell off / panic is now behind us.
Once can look forward for the Euro to strengthen against the USD to a target level of 1.3825 - 1.40 levels in the coming days.
Consider 1.3375 as the crucial support / stoploss for any trade initiated.
The stock markets the world over are witnessing cautious bullishness and most countries are 'showing' signs of revival. The indices are rising , but with hesitation.
Forex traders may see good opporunities in other 'Euro' pairs.
Happy trading
CA Rajiv D Khatlawala
ValueTrade Academy
www.investogyan.com
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