The EURUSD continued its bullish momentum yesterday bottomed at 1.3175, topped at 1.3262 and closed at 1.3191, but that bullish move was limited and the pair was rising with low momentum as shown on the daily and the 4 hour chart...

Today I assume massive bearish move testing at first the key support 1.3103 , losing this level would lead for the expected massive bearish move testing the key support 1.2994..

Immediate resistance is seen around the key resistance 1.3200 where bounce back to the downside is expected , stability below the key resistance 1.3295 is indeed to keep the bearish move suggested for today valid, breaking of 1.3295 would mix up things and may lead for more gains towards 1.3385 before the next fall...

Recommendations: Sell around 1.3200, stop at 1.3305 , target 1 at 1.3110 , target 2 at 1.3000

Best Regards..

27 Apr 2012 05:00 AM

Views: 1013

Tags: EUR/USD, EURUSD

Comment by Haitham653 on April 27, 2012 at 5:08am

Bearish breakout has been confirmed on the 4 hour chart at 1.3180, a test to 1.3200 is suggested before the next fall towards 1.3100 levels ..

Comment by Haitham653 on April 27, 2012 at 6:12am

GBPUSD: Yesterday , the weekly RSI hit 60 level suggested bounce back to the downside , the daily was unable break above 70 level suggested possible topping at 1.6206...massive bearish move may happen today...

Comment by spring on April 27, 2012 at 6:14am

I sell GBPUSD @ 1.6197

But  i think  GBP could dip.@ around 1.6155-60

Comment by spring on April 27, 2012 at 6:17am

Today    USA Q1 GDP will be weak .....??

Comment by Manuel on April 27, 2012 at 6:17am

In European Session or just now the massive moves will start? Thank you.

Comment by Haitham653 on April 27, 2012 at 6:26am

EURUSD: the pivotal level for today is 1.3180 , stability below this level will add strong bearish tone to the pair testing 1.3100, H4 close below 1.3180 would confirm the bearish breakout..

H4 close above 1.3180 would lead for strong and volatile moves around 1.3200/220 but the pair is under pressure on the daily chart any rise above 1.3200 is supposed to follow by sharp sell...

Comment by Haitham653 on April 27, 2012 at 6:39am

Hi Manuel: read my post again, once 1.3103 is lost strong bearish move is expected towards or below 1.3000 levels... 

Comment by Manuel on April 27, 2012 at 6:51am

Thank you so much, Sir.

Comment by nader on April 27, 2012 at 6:55am

Hello Haitham hope you are doing well,

Can we sell euro from here 31.70???

Thanks

Comment by Haitham653 on April 27, 2012 at 7:20am

Hello Nader , at 1.3170 you may sell but you need to use high stop loss, I recommended around 1.3200, as long as the pair is above 1.3103 it may pullback above 13200 levels...H1 close below 1.3103 would lead for strong bearish move towards 1.3000...

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