Last week ,The epicenter of many of questions seems to be southern Europe, where Greece, Portugal, Spain and to a lesser extent the remainder of the so-called PIIGS (Portugal, Italy, Ireland, Greece and Spain) have flamed investor concerns that burgeoning public debt may significantly weaken investor demand for sovereign debt and exacerbate an already trouble budgetary crisis.
Many investors have taken to selling the euro is as a means by which to reduce exposure to these problem areas and/or speculate on one or more of these crises spiraling out of control.
-Just look at above chart :Weekly chart includes a powerful rally of Year 2009 and more recently and two-stage selloff, starting in the first half of December and picking up steam over the course of the past 3 ½ weeks as traders looked to capitalize on weakness stemming from the problems in Greece, Portugal and Spain.
Just watch 136 level.Three consecutive close below this level+ Weekly close will take to 131.70-130 level.
-If not breaks 136 & trades above 138 level will create buying upto 140-141 level.
-Best Strategy :Sell on Rise.
-Will update more very soon.
Updated at 13:10/8th Feb/Baroda
