Haitham653's Blog – March 2013 Archive (37)

EUR/USD - Weekly Strategy (01-05 Apr 2013)

Recommendations: SHORT positions below 1.2847 with 1.2660 & 1.2500 as next targets.

Alternative scenario: The upside breakout of 1.2847 will call for a rebound to 1.2940/1.3047.

Description: The EUR/USD continued its bearish momentum last week, a short term bottom has been placed at 1.2750 levels, 4 hour close above the key resistance 1.2847 will confirm bottoming at 1.2750 and should pave the…

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Added by Haitham653 on March 31, 2013 at 2:00pm — 14 Comments

AUD/USD - Consolidates with downside bias!

The AUD/USD maintained bearish momentum the past few day, a short term top has been placed at 1.0496 levels, pressure now will be on the key support 1.0340, losing this level on a daily closing basis  will suggest that rise from 1.0114 is finished at 1.0496, If seen , this scenario will pave the way towards 1.0114 levels and even lower..

On the upside, the AUD/USD will have to hold above 1.0496 on a daily closing basis to push the market for further upside gains, If seen, this…

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Added by Haitham653 on March 29, 2013 at 1:18pm — No Comments

GBP/USD could reach 1.4200 in 2013 !

The GBPUSD maintained some bullish momentum the past few weeks, pressure now will be on the key resistance 1.5500, the GBPUSD will have to hold above 1.5500 on a weekly closing basis to confirm bottoming at 1.4830 and change medium term outlook from bearish to neutral, If seen pressure will be on the key resistance 1.5840 , where a breach will turn focus on the 1.6000 levels.

Alternatively, a failure to hold above 1.5500 on a weekly closing basis, could mean a return to the 1.4830…

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Added by Haitham653 on March 28, 2013 at 5:00pm — 3 Comments

EURUSD - Intraday Strategy (28 Mar 2013)

Recommendations: SHORT positions below 1.2847 with 1.2735 & 1.2660 as next targets.

Alternative scenario: The upside breakout of 1.2847 will call for a rebound to 1.2890/1.2940.

Description:As long as the hourly close is below  1.2847,intraday bias is to the downside, an hourly close below 1.2750 will accelerate the downside move suggested for today towards 1.2735/660 levels,an hourly close above…

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Added by Haitham653 on March 28, 2013 at 3:00am — 22 Comments

EURUSD - Intraday Strategy (27 Mar 2013)

Recommendations: SHORT positions below 1.2940 with 1.2840 & 1.2765 as next targets.

Alternative scenario: The upside breakout of 1.2940 will call for a rebound to 1.2995/1.3040.

Description: No change in my view, as long as the hourly close is below 1.2940,intraday bias is to the downside, an hourly close below 1.2829 will accelerate the downside move suggested for today towards 1.2765/35 levels,an…

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Added by Haitham653 on March 27, 2013 at 6:47am — 11 Comments

EURUSD - Intraday Strategy (26 Mar 2013)

Recommendations: SHORT positions below 1.2940 with 1.2840 & 1.2765 as next targets.

Alternative scenario: The upside breakout of 1.2940 will call for a rebound to 1.2995/1.3040.

Description: The pair trades below its resistance at 1.2940, below this level look for further downside loses towards 1.2840/1.2765 levels, a break above 1.2940 - an hourly close is better - will reverse risks to the upside…

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Added by Haitham653 on March 26, 2013 at 6:16am — 12 Comments

EUR/JPY - Weekly Strategy (25-29 Mar 2013)

Recommendations: LONG positions above 121.46 with 124.49 & 126.00 as next targets.

Alternative scenario: The downside breakout of 121.46 will open the way to 118.70/116.25.

Description: The EUR/JPY traded with much volatility last week, and dipped to 121.44 levels, this situation mixed up things a little bit , fall from 126.03 which is a second leg of 127.70 consolidation , was contained by the rising support from 118.71/118.95…

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Added by Haitham653 on March 24, 2013 at 7:21pm — 4 Comments

EUR/USD- Monthly chart ; 1.1600 or 1.4700 !

According to monthly chart, EUR/USD turned into a long term consolidation pattern since reaching 1.6038 in 2008, such consolidation is still in progress and range trading is expected to continue for some time between 1.1600 and 1.6038 levels... 

If we take a quick look to the chart below, we can notice that price completed 4 waves from 1.6038 levels, to 1.1875 levels , the 5th from 1.4940 still unclear whether it finished or still in progress, at this point I have 2…

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Added by Haitham653 on March 23, 2013 at 5:19pm — 8 Comments

EURU/USD - Weekly Strategy (25-29 Mar 2013)

Recommendations: SHORT positions below 1.3100 with 1.2850 & 1.2700 as next targets.

Alternative scenario: The upside breakout of 1.3100 will call for a rebound to 1.3190/280.

Description: The EUR/USD maintained some bullish momentum last week, Intraday bias turns to neutral retesting the 1.3100 levels, pressure now will be on the key resistance 1.3100, EURUSD will have hold above the 1.3100 levels…

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Added by Haitham653 on March 23, 2013 at 9:13am — 8 Comments

EUR/USD - 30 Min chart ; Inside bar pattern !

As shown on the 30 min chart posted below, the EURUSD has formed a breakout pattern, support at 1.2931, resistance at 1.2978, a 30 min close above 1.2978 will advance the pair further higher towards 1.3025 and 1.3072 levels, while a 30 min close below 1.2931 will open the way to 1.2884 and 1.2837 levels.

Recommendation 1 # : Buying the pair with a 30 min closing above 1.2978 targeting 1.3025 and 1.3072 levels, stop loss below 1.2931 levels.

Recommendation 2 # :…

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Added by Haitham653 on March 21, 2013 at 4:38am — 24 Comments

EURUSD - Intraday Strategy (20 Mar 2013)

Recommendations: SHORT positions below 1.2898 with 1.2825 & 1.2780 as next targets.

Alternative scenario: The upside breakout of 1.2898 will call for a rebound to 1.2945/1.3025.

Description: The pair trades below its resistance at 1.2898, below this level look for further downside loses towards 1.2825/1.2780 levels, a break above 1.2898 - an hourly close is better - will reverse risks to the upside…

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Added by Haitham653 on March 20, 2013 at 12:16am — 16 Comments

GBPUSD- Intraday Strategy (19 Mar 2013)

Recommendations: LONG positions above 1.5055 with 1.5110 & 1.5180 as next targets.

Alternative scenario: The downside breakout of 1.5055 will open the way to 1.5010/1.4935.

Description: As long as the key support 1.5055 holds, look for further upside gains towards 1.5200 levels,a break below this level will reverse risks to the downside and open the way to 1.5010/1.4935…

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Added by Haitham653 on March 19, 2013 at 9:43am — 1 Comment

EURUSD - Intraday Breakout Strategy (19 Mar 2013)

Recommendations # 1 :LONG positions above 1.2980 with 1.3025 & 1.3070 as next targets, set your stop loss at 1.2950, at 1.3025 move your stop loss to Break-even.

Recommendations # 2: SHORT positions below 1.2900 with 1.2855 & 1.2810 as next targets, set your stop loss at 1.2930, at 1.2855 move your stop loss to Break-even.

Note: a rejection from support and resistance would mean that we have a…

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Added by Haitham653 on March 19, 2013 at 6:00am — 8 Comments

EURUSD, Neutral but under pressure, support at 1.2910, resistance at 1.3100 !

The EURUSD maintained a strong bearish momentum with the beginning of this week affected by bad news from Cyprus , the market was driven - most likely - by fears and emotions.

At the moment of writing , the pair trades around 1.2952 above the key support 1.2910, a daily close below this level is indeed to accelerate the bearish move towards 1.2661 levels, a daily close above 1.2910 may bring rebound to the upside towards the key resistance 1.3070 ahead of 1.3100 (main).

To…

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Added by Haitham653 on March 18, 2013 at 8:49am — 4 Comments

GBPUSD - Weekly Outlook - (18/22 Mar 2013)

The GBPUSD maintained a bullish momentum last week, topped at 1.5175 and closed at 1.5110 levels, with the key support 1.5045 intact, the risk for more upside gains will remain strong,now pressure will be on the key resistance 1.5155, GBPUSD will have to hold above 1.5155 on a daily closing basis to push the market for further upside gains, If seen, this scenario will pave the way to 1.5500 levels, at this this point comes the real challenge, around 1.5220 and 1.5320 levels, the pair might…

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Added by Haitham653 on March 17, 2013 at 7:00pm — 10 Comments

EURUSD is neutral with bullish bias as a result of the European summit !

The EURUSD flew the last Thursday , 14th of March 2013 as a result of the European summit , definitely what happened behind the scene , was the reason behind that rise !

Anyway, I won't talk about details, but I think the main reason behind that rise is that the new draft budget was rejected by the European Concoul, basically I think they decided to hold the discussions till the next summit on the 22th of May 2013 to make their final decision.

However, next summit will decide…

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Added by Haitham653 on March 17, 2013 at 10:10am — 5 Comments

Gold & Silver - Weekly Outlook - (18/22 Mar 2013)

The Gold was contained by the falling support of the downward channel, with the key support 1575 intact, rebound to the upside is strongly suggested, break of 1600 will confirm short term bottoming at 1555 and target the falling resistance line of the downward channel around 1650 levels.On the downside, sustained break below the key support 1575 may expose 1555 and pave the way to 1540/1500 levels.

The Silver was also contained by the falling support of the downward channel, with the…

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Added by Haitham653 on March 16, 2013 at 6:22pm — No Comments

EURUSD- Daily chart;Further upside risks towards 1.3190-1.3370 !

The EURUSD maintained a bullish momentum the past few days after bottoming at 1.2910 levels, pressure now will be on the key resistance 1.3190 ,EURUSD will have to hold above 1.3190 on a daily closing basis to push the market for further upside gains,  if seen this scenario could push the market further higher towards the 1.3370  levels, where a breach will turn focus on the 1.3577 levels, further break above 1.3577 will expose 1.3710 and target 1.3850.

Alternatively,A failure…

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Added by Haitham653 on March 16, 2013 at 3:35pm — 2 Comments

Will price action send the EURO to 1.3600 levels ! 1.2910 & 1.3189 are important pivots !

The EURUSD declined below 1.2955 today tested 1.2910 and recovered strongly, almost 120 pips, If we check the daily chart , we have a sloping trend line from 1.3171 and 1.3139, this line capped the pair in Sept 2012 , Oct 2012 and the beginning of Dec 2012, later it was broken to the upside in the middle of Dec 2012, in the beginning of Jan 2013 it  served as support around 1.2997 and sent the pair towards 1.3710 levels..

This line contained the downside from 1.3710 levels, the pair…

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Added by Haitham653 on March 14, 2013 at 9:45pm — 8 Comments

EURUSD - Intraday Strategy (14 Mar 2013)

Recommendations: SHORT positions below 1.2981 with 1.2920 & 1.2875 as next targets.

Alternative scenario: The upside breakout of 1.2981 will call for a rebound to 1.3030/80.

Description: The pair broke below the key support 1.2987 yesterday and tested 1.2920 levels, last night recovery was limited below 1.2987 and the pair found resistance at 1.2981, as long as this level holds,more loses are…

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Added by Haitham653 on March 14, 2013 at 6:18am — 19 Comments

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