EURUSD- 4 Hour Chart;Further Downside Risks below 1.3017 towards 1.2875-1.2735 !

The EURUSD continued to maintain its bearish momentum the past few days after rejection from 1.3318 levels, pressure now will be on the key support 1.3017 ,EURUSD will have to hold below 1.3017 on a 4 hour closing basis to push the market for further downside loses  if seen this scenario could push the market further lower towards the 1.2875  levels, where a breach will turn focus on the 1.2735 levels, at this point I'd expect downside to be contained above 1.2735 levels to bring another rally to the upside towards 1.3000 levels.

Alternatively,A failure to hold below 1.3017 on a 4 hour closing basis, could mean a return to the 1.3318 levels, a break above 1.3318 will reverse risks to the upside and pave the way to 1.3520/1.3710 levels.

Best Regards

Haitham

Views: 491

Tags: EUR/USD, EURUSD

Comment by Md.Masudur Rahman on March 1, 2013 at 3:50am

Thank you very much for your analysis.please share your trading strategy how you calculate your target.It could be helpful many trader.  

Comment by Md.Masudur Rahman on March 1, 2013 at 4:22am

Do u have any idea about usdjpy  for today?

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