EURUSD 14 June 2012
Hello Friends,
Euro pushed higher in yesterday trading sessions and reached 1.2610 top currently quoting @1.2575. As shown in above chart we have possible H&S pattern in H4 time frame, resistance is around 1.2620/30 where we might see decline again to 1.2480/2500 level where uptrend line now is located. Also in H1 chart we see price hovering around uptrend line support now @1.2560. So my recommendation is selling euro in 1.2550 break down or 1.2620 touch for 1.2480/70 test today. initial stops could be adjust above 1.2670 resistance line where if seen we believe in trend reversal in daily approach.
Regards,
Reza
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Comment by Reza Ajorloei on June 14, 2012 at 1:20pm -
For me stability below 1.2590 means more bearish setup. Shorts now could be entered around 1.2580 with stops above 1.2640 and targets below 1.2520.
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Comment by Kurt Stolz on June 15, 2012 at 1:52am -
Hi Reza! What do you think? Do you think we are going to see a trend reversal? 1.2670? Or it will retest 1.2480? Next week?
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Comment by Reza Ajorloei on June 15, 2012 at 6:13am
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Hi Kurt,
Market moves are based on rumors these days before real events come to play so we may see freaky moves till next week events. From technical side euro reach to weekly high however weaken short side but keeping below 1.2670/80 for me sound sell territory in place yet. Keep in mind Sunday we have Greece election that could case massive moves in market so keeping trades is not wise. Keeping price below 1.2670/80 could lead to 1.2200/2300 support next week.
good luck
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Comment by Kurt Stolz on June 26, 2012 at 2:15am
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Hi Reza hope everything is ok! What happend to yoir analysis? They were great!!
Regards,
Kurt
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Comment by Reza Ajorloei on June 26, 2012 at 8:18am
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Hi kurt
sorry, I was off the market for last 2 week.
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