Hi folks,

EURUSD as shown in above picture hesitate to break below 1.3000 barrier, strong pullback above 1.3050 expected for 1.3080/90 retest and  after consolidation around there breaking 1.3100 for 1.3130/50 target test, from there we should reassess upcoming moves ahead.

My recommendation for today is entering long for 30-50 pip around 1.3040/50.

Thanks

Reza

Views: 894

Comment by Reza Ajorloei on March 15, 2012 at 7:43am

Take care about entering long in high levels, Entering long in support is recommended

Comment by Reza Ajorloei on March 15, 2012 at 8:07am

Hope to be useful my comments, don't forget risk management in every trade, sometimes market moves out of our ideas:)

Comment by Reza Ajorloei on March 15, 2012 at 8:18am

Leon

upside move is corrective now, according to above explanation eu may resume downtrend from 1.3080 or it may enter bigger correction for 1.3130/50 test before another round of sell begin.

Comment by sowMa on March 15, 2012 at 8:23am

Hello Reza, you mean eu move towards 1.3080 levels ? ?

Comment by Reza Ajorloei on March 15, 2012 at 8:44am

Hello sowma,

In my thought we might test 1.3080 before confirming next direction up or down, wait for new updates after 1.3080 test.

Comment by sowMa on March 15, 2012 at 8:54am

Sure i'll wait for all your updates. Thank you.

Comment by sowMa on March 15, 2012 at 9:23am

The pair is not moving above 1.3059. I think its good resistance.

Comment by Reza Ajorloei on March 15, 2012 at 9:33am

Dear sowma

I think eu is bullish till US open

Comment by Bruno on March 15, 2012 at 9:54am

Hi Reza,

I agree with you UTL@ 1.3088 and 1.3150. These would be good areas to reload short

Comment by Reza Ajorloei on March 15, 2012 at 10:40am

Hi Bruno, My own target for today is around 1.3100 where we might see good sell orders

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