EURUSD 9 Mar 2012

Hello all friends

Euro rally to 1.3292 resistance (50% of 1.3486-1.3097) seem to be corrective move at this point. In my thought this correction from H4 view might continue in 1.3100-1.3350 range before next move down, so my expectation is 1.3150/3170 support touch for today, from there we should see pullback again for 1.3320/1.3340 touch. In other side clear break of 1.3350 mean bull strength to be in focus for 1.3480/1.3500 retest.

Trade recommendation: Enter buy below 1.3200 with targets above 1.3280 and stops below 1.3130

Good luck

Reza

4 members like this

Comment by Reza Ajorloei on March 9, 2012 at 11:35am: Dear rajesh

Euro next move mostly depend on NFP release, Personally I don't see sustained gains to be in place for today. This is my view but Mr. Market do its own moves.

Comment by Reza Ajorloei on March 9, 2012 at 1:24pm: Euro is breaks 1.3200 round handle expect 1.3170/3180 to prevent from more decline

Comment by Reza Ajorloei on March 9, 2012 at 1:44pm: Euro touched 1.3160 low , 1.3150 break will reinforce bearish trend at least for 1.3100/3080 target

Comment by Reza Ajorloei on March 9, 2012 at 5:06pm: In case of holding above 1.3090/80 we should see corrective moves below 1.3180 preparing for next move below 1.3080. Moving above 1.3180 bring consolidation phase in focus between 1.3100 and 1.3300 for coming week.

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