EURUSD 3 Apr 2012
Hello all friends,
Euro bounce from 1.3000 low seem to be halted by 1.3400 resistance level. My preferred pattern is H&S in daily chart that 1.3380 resistance rejected Euro for consecutive times, In H4 chart we are in bullish channel as yet, yesterday try to break this channel was rejected from 1.3275. What we should anticipate as next move?! H4 bullish above 1.3300, Daily Bearish below 1.3380. My view is breaking below 1.3270 in coming sessions and retest of 1.3000 in coming days so:
Enter short below 1.3300 with stops above 1.3380 and targets below 1.3050.
Good Luck
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Comment by Reza Ajorloei on April 3, 2012 at 7:48am -
hi Rajesh
you mean 1.3250?!
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Comment by pixta on April 3, 2012 at 7:52am -
Better 1.1250 as a first target ;))
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Comment by ASGHAR SOLTANI on April 3, 2012 at 9:22am -
salam REZA
With strong sup. at daily/H4 ichinuko system and longterm ABC/X/ABC pattern ,I prefer bullish scenario to min. 1.3485 and then 1.3777.only below 1.32 invalidate this view at med.term.
A-soltani
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Comment by Reza Ajorloei on April 3, 2012 at 10:35am
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Salam Asghar
In weekly we have strong channel resistance around 1.3400/3440 in addition to daily H&S. The only thing not conforming bearish now is H4 bullish channel that is preventing bearish run now, H4 channel support now is around 1.3325, breaking this support will add bearish momentum.
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Comment by Moses Bukenya on April 3, 2012 at 11:29am
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REZA nice reading, any one doubting yo capabilities should see what's happening now.
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Comment by Reza Ajorloei on April 3, 2012 at 12:00pm
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Thank you Moses
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Comment by gunes unver on April 3, 2012 at 6:42pm
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I agree rajesh patel, it is ultimately 1.225 area, of course it would take months.
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Comment by Reza Ajorloei on April 3, 2012 at 7:18pm
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Euro breaks 1.3250 and now hovering around 1.3220 after FOMC minute, next level is 1.3170/80 support could be tested in Asian session. 1.3240/50 should hold as resistance and new sell entry orders.
Good Evening
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