Comment by Reza Ajorloei on May 24, 2012 at 7:39am

As shown in chart 1.2520/2500 is H4 channel support, In case of 1.2550 break  next target is 1.2520/2500, from there bounce to 1.2620/10 is expected in first stage.

Comment by Priyank Nevatia on May 24, 2012 at 9:41am

Hi Reza, now that EUR bounced from 1.2520 level ... do you see EUR having the legs to go all the way upto 1.2680/1.2700 

Comment by Reza Ajorloei on May 24, 2012 at 10:56am

Hi Priyank

Bounce from 1.2520 low is early sign of rebound but in my thought Euro need to overcome 1.2620 resistance first, honestly I don't expect this one today, I assume range move below 1.2610/20 and above 1.2500 for today. Shorting the pair around 1.2600 for 30-40 pips profit taking is recommended.

Comment by Rajanna Raji on May 24, 2012 at 1:56pm

You were spot on bounce to 2620. now where do you see the downward movement to extend?

thanks 

Comment by Reza Ajorloei on May 24, 2012 at 2:22pm

Rajanna

As was told for today consider 1.2620 as top, in downside after 1.2520 and rebound to 1.2620, I think range move will be in market between 1.2620 and 1.2550 for remaining time of day,  selling the pair above 1.2600 is recommended yet for 20-30 pips TP.

Comment by Ossbwy on May 24, 2012 at 2:27pm

Reza Ajorloei. i read your comments and  post your are nice expert. and very good predication of today about eurusd . so carry on sir we are keeping reading your post and comments.

Comment by Reza Ajorloei on May 24, 2012 at 3:06pm

Thank you Ossbwy

I wish successful trades for you. Good luck

Comment by Reza Ajorloei on May 24, 2012 at 8:57pm

Euro well dropped from 1.2610 resistance and retest 1.2520 (important support), From here again bounce expected to levels above 1.2600 most likely around 1.2660/80 in coming sessions.

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