Forex Technical Update

By | May 20, 2010

The EURUSD is currently trading at 1.2362 and in a very short term correction mode. It might extend till 1.25-1.26 levels. Exporters and traders should go short euro around there for a target of 1.20- 1.22 and below. We had advised exporters to cover at 1.30 levels for medium term (refer week back update). Bearish-target 1.2000 & below . (EURUSD – 1.2362).
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