EURUSD 12 Mar 2012

Hello all friends,

Euro broke again uptrend channel and closed daily below this dynamic support, Now most probable move is decline below 1.30 after some correction in 1.3080-1.3160 range. My recommendation is shorting pair above 1.3120 for 1.3050 test for today and later 1.2970/80, stops could be adjust around 1.3180.

Good luck

2 members like this

Comment by Reza Ajorloei on March 12, 2012 at 2:49pm: It seem that 1.3138 is acting as resistance for today and we should see 1.3080 break in coming hours for 1.3050/40 support test.

Comment by Reza Ajorloei on March 12, 2012 at 4:33pm: Euro enter bigger correction phase eying 1.3160/70 resistance

Comment by Reza Ajorloei on March 13, 2012 at 12:03pm: Euro reject from 1.3190 extend to 1.3105 low currently hovering below daily pivot point, expect some consolidation in 1.3100-1.3140 range before next major move that my thought is breaking 1.3080 and 1.2970/80 target for today.

Comment by Reza Ajorloei on March 13, 2012 at 12:56pm: breaking 1.3080 bring 1.3050 support in focus first and later 1.2980 target

Comment by Reza Ajorloei on March 13, 2012 at 4:11pm: after bottoming at 1.3050 corrective bounce above 1.3100 could be good opportunity for entering short again, 1.2980 target is in focus yet.