Talk about volatility… Last week I did a post on Euro-Dollar and used the weekly chart to look at this pair. I thought it was likely for euro to test 1.2830 or even down to 1.2700 since the Cyprus problem broke loose. The very next day, Euro rebounded strongly and ‘experts’ were saying the next target for euro would be 1.3100.
Euro suffered huge losses today and it is now back to the same level, 1.2870, when I did that post. The weekly chart has changed much. Euro should be able to find some support between 1.2700 and 1.2830 should it continue to fall.