EURUSD 04 June 2012
Hello
Last week Euro was unable to hold 1.2480 support and decline continued below 1.2300. In daily approach market now is zoomed on 1.1880/1.1900 support test that could be tested in coming week. In Hourly view as drawn on H4 chart dynamic trend line resistance now is located around 1.2490/2500 so bullish correction may extend to that level. Entering short around 1.2480/90 is suggested with stops above 1.2550 and intraday targets below 1.2350 and 1.2320.
Regards,
Reza Ajorloei
-
Comment by Reza Ajorloei on June 4, 2012 at 11:18am -
Euro holds below 1.2440, sells may play the rule for 1.2380/2400 test in US open
-
Comment by Reza Ajorloei on June 4, 2012 at 1:41pm
-
Euro has entered short zone, selling the pair now is suggested with stops above 1.2550 and intraday targets below 1.2400.
-
Comment by behrooz sadeghi on June 4, 2012 at 8:45pm
-
Thanks dear reza for your useful comment as usual
-
Comment by Reza Ajorloei on June 5, 2012 at 1:50am
-
Moving beyond 1.2510 lead price to 1.2550/60 top, if bid tone holds above 1.2570 we should consider trend reversal ( hard to believe) with primary targets around 1.2650/60. Consider 1.2490 as support now if broken we should expect 1.2420/400 target ahead.
-
Comment by Reza Ajorloei on June 5, 2012 at 1:52am
-
Thank you Behrouz,
You're welcome
-
Comment by Reza Ajorloei on June 5, 2012 at 8:06am
-
Euro dropped almost 100 pips from 1.2540 resistance now quoting around 1.2440, there is romm for further decline to 1.2420/2400 support then corrective move in 1.2400-1.2460 range is likely before next move.
Comment
© 2013 Created by FXstreet.
You need to be a member of FXstreet.com Forex Social Network to add comments!
Join FXstreet.com Forex Social Network