As shown on the daily chart posted below, the EURUSD is in consolidation mode- in medium term - after losing the key support 1.2940 which is served now as resistance!
A clear break with stability above 1.2940 would be a sign of very persistent bullish momentum, and then price action is testing 1.3075/1.3170 levels A.S.A.P!
But in return, a clear break below 1.2815 would delay the bullish move and extend the consolidation toward the key support 1.2685;…Continue
As shown on the 60 min chart below , bearish breakout has been already confirmed at 1.2890, an hourly closing below this level followed by RSI break below 40 level , would add strong bearish momentum in short term testing 1.2850/1.2800 levels,1.2890 would serve as resistance , If RSI holds above 40, the EURUSD will be in consolidation mode in short term !!
But in return, a failure to close below 1.2890 might give us a positive reversal signal testing 1.2940 once again, a clear break…Continue
Added by Haitham653 on September 28, 2012 at 2:32pm — No Comments
As shown on the daily chart posted below, the pair trades now around critical levels, a trend continuation - of the bullish breakout 1.2392 - around 1.2815/1.2870 levels is suggested, %R indicator is in oversold area, a daily closing out of oversold area with stability above 1.2815 would give us strong bullish signal on medium term ,It would increase the risk toward 1.3212 forming a newer high, then we need to evaluate pairs activities around that level If manage to reach it…Continue
The EURUSD continued its bullish momentum last week topped at 1.3168 and closed at 1.3127...
Before we start looking to the next week, I’d like first to take a quick look to most important support and resistance levels on daily chart!!
I’m gonna start from top to down!!!
1-Low of 01 Nov 2011 at 1.3608
2 Low of 09 Nov 2011 at 1.3520
3-Low of 03 Apr 2012 at 1.3212 (Monthly Resistance).
4-Low of 02 Mar 2012 at 1.3186 (Weekly…Continue
By taking a quick look the monthly chart , we have bearish breakout at 1.3211 – low of Sept 2011 – Williams indicator suggests possible trend continuation , will the pair test this level once again as did in the past Feb before resuming the long term bearish move ?!!!!
The EURUSD continued its unclear direction yesterday , and it supposed to continue this way as long as it traps between 1.2465 levels - low of the week 26 Aug 2012 - and 1.2640 levels low of the week 13 May 2012 - , a weekly or daily closing at least below or above these levels is indeed to get out of consolidation !!!
Today I assume a bearish move as shown on the hourly chart posted below, we have inside bar rejection pattern but we need an hourly closing below 1.2580…Continue
The EURUSD was unable to maintain its bullish momentum yesterday , after the fake breakout above 1.2589...
The pair declined last night affected by the negativity of the bearish divergence on daily chart , followed by a daily closing below the previous day's low 1.2560 , add to that losing the minor support 1.2530 which I consider it a strong bearish momentum !
Today I assume a bearish move testing the weekly support 1.2465 and the lower line of the bullish channel around…Continue
Added by Haitham653 on September 5, 2012 at 7:39am — No Comments
The EURUSD continued its bullish momentum yesterday , topped at 1.2610 , bottomed at at 1.2559 and closed at 1.2585...
After breaking above 1.2589 / 1.2610 , I assume a bullish move today testing 1.2750 area (50% retracement of 1.3486 to 1.2042)...
Immediate support is seen around 1.2600 where bounce back to upside is expected , stability above the key support 1.2530 is indeed to keep the bullish move suggested for today valid ,losing this level would take us…Continue
The EURUSD continued its bullish momentum last week, topped at 1.2637, bottomed at 1.2465 and closed at 1.2572…
The bias remains bullish in nearest term testing 1.2700 region, Immediate support is seen around 1.2530 where bounce back to upside is expected, losing this level would take us to neutral zone testing the main support at 1.2465, losing this one with 4hour closing below this level may end the current bullish phase and might test 1.2390 zones….
For the upside, immediate…Continue