EURUSD - 1.3850 or 1.2700 ?!!!
As shown on the daily chart below, after breaking of the downward channel, the pair trapped inside triangle , broke a little bit last Friday above the upper line of the triangle ,anyway a clear break above the upper line will suggest that the whole rise from 1.2042 is resuming and target 1.3850 levels where strong rebound is suggested 61.8% retracement of (1.2042/1.4939) run, a clear break above 1.3850 might resume the bullish move 1.4939 levels but in return , a rejection from the upper line of the triangle with a long bearish candle, especially with a close below 1.3278 may test the lower line of the triangle around 1.3150/100 levels , a clear break below the lower line will open the way to 1.2660 levels, a clear break below 1.2660 will suggest that rising from 1.2042 is already finished around 1.3365 and the pair should resume the long term bearish trend and break below 1.2042 towards 1.16700 levels.
Best Regards.
Haitham
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Comment by Max on January 13, 2013 at 2:03pm -
Hi haitham, as I commented before, I appreciate your work for presenting such clean and clear charts, but do you ever actually do trade and show on chart? Or is it just tracking?
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Comment by Haitham653 on January 13, 2013 at 4:06pm -
Hello Max..
Basically I'm an intraday trader, enter and exit quickly, usually hold positions for half to few hours, my daily target around 30 pips, but every day I check from 15 min time frame to monthly chart to avoid false entries on smaller time frames and to know when the big moves usually happen so I can maximize my profits, and minimize my risks...
I'm a real trader, not a tracker, over 95% of my trades on EURUSD, It's rarely to trade on other pairs....
Just wanna clarify a point , my real trades based on 90% of my posts.....
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Comment by Hammad on January 13, 2013 at 4:13pm -
That is what i wanted to listen,,,,, It will boost the confidence of you followers Mr. Haithem because many people are learning from you and iam one of them
BR,
Hammd :)
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Comment by john richmond on January 13, 2013 at 4:24pm -
that's nice review. thumbs up
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Comment by Haitham653 on January 13, 2013 at 4:31pm
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I don't recommend selling the EURO now, basically every dip is a good chance for taking long entries..
As I see, most likely , the EURO will continue rising the first 3 or 4 months of 2013 then it would fall strongly, OR move sideways for long time , till July or Aug then it will rise or fall !!!
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Comment by Haitham653 on January 13, 2013 at 4:50pm
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Sell in May and go away...
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Comment by Hammad on January 13, 2013 at 5:10pm
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Dear Haithem!
Please look into the daily chart of US Crude oil and please please share your thoughts
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Comment by Haitham653 on January 13, 2013 at 7:06pm
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Crude Oil is bullish, already put a temporary top at 95.16, break of this level should resume the bullish move to 97.00 levels where strong cap is expected, however any down move below 95.16 is expected to be contained well above 90.78 to bring another rally, but a daily close below 90.78 will delay the bullish move and call for a rebound to 88.75/87.68 before the next rally..
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Comment by HectorFXtrader on January 13, 2013 at 7:43pm -
Haitham , very nice simple and clean analysis, wish you a goog week plenty of pips. Very similar to my analysis
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Comment by Max on January 13, 2013 at 8:02pm
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Thanks for more info, I appreciate it, have a good week.
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