Comment by Hammad on January 8, 2013 at 5:36am

veryn hard thing you did Mr.Haithem...today's forecaste is really difficult

Comment by Haitham653 on January 8, 2013 at 7:04am

With yesterday's close above 1.3107, Intraday bias turns to bullish - temporary - for testing 1.3189, a daily close above 1.3189 will suggest that pullback from 1.3308 is finished and target 1.3385/1.3550 levels, on the downside, a daily close back below 1.3104 will suggest that falling from 1.3308 is resuming and target 1.3000/1.2900 levels...

Comment by nokuthula on January 8, 2013 at 7:41am

job well done thank u 653

 

Comment by Peter jcp on January 8, 2013 at 12:49pm

Hi Haitham -Break out started under your 3103 - I have more supports now at 3088 and 75 before the 3067 area. Still think one of these might be used for another go up - but would need over 3114 and 3123 to think it could then try over 3130+ again. 

Have a good day 

Regards 

Peter

Comment by Haitham653 on January 8, 2013 at 1:11pm

Hi Peter..

According to my 1 hour chart, main support is at 1.3065, If this level is gone, we might see 1.3000 today !!!

Comment by Peter jcp on January 8, 2013 at 1:19pm

Hi Haitham - if you remember on the way up  - once the 2995 - 3005 area established  it self as a main support - we then needed over approx 3030/5 then 52/ 55 and then 67 and a daily pivot  / fib around 3075-77 area. I still think one of these support areas will hold again - but then its a case whether we get another LH under 3100 or we try the 3100 area again for higher.

I am not really a bull or bear so have no real bias - but will be watching how the S & R's might play a part in this next waves etc

Would agree with you though - if 3050 and 30 went yes 3000 would be on the cards;-)

Regards 

Peter

Comment by kamdi eloji on January 8, 2013 at 4:01pm

hi peter i agree with your comment and currently price is trading at 30653 it is showing signs of a strong resistance there do you reckon it might still go lower before london close?

Comment by Peter jcp on January 8, 2013 at 5:08pm

Hi Kamdi - yes the low was 3056/7 and back over 3060 it was a scalp buy again for me. The key though is breaking back up through old support - which is now resistance  levels such at 75/7 then 88 and back into 3100 area.

Whether that will happen all depends on the strength of supports from 3050 + and the weakness of resistances over 3080 +. 

If we challenge back under 60 and then 50 - its further down to 3030 area . If 50 and 60+ hold it will keep trying up again.

Good Luck 

Regards 

Peter

Comment by yogesh saini on January 9, 2013 at 1:49pm

hi haithem, your analysis is good.. can you please explain how according 2 you, 3065 was main support???

Comment by Haitham653 on January 9, 2013 at 1:59pm

Hi yogesh..

According to 1 hour chart, we had bearish momentum breakout at 1.3065 2 days ago, this level pushed the pair up to 1.3139 yesterday, today - 1.3065- already failed , this scenario suggests a test to 1.3020 levels , however, an hourly close back above 1.3065 may push the pair to 1.3100 levels !!

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