EURUSD Daily Outlook 05 Apr 2012
The EURUSD continued its bearish momentum yesterday,topped at 1.3233 and closed at 1.3143; After closing below 1.3212 on daily chart , I assume another bearish move today testing the key support 1.3120/1.3080 zone, a clear break below this area would lead for more losses testing the key support 1.3050/1.3000.
Immediate resistance is seen around 1.3160, stability below 1.3250 is indeed to keep the bearish move suggested for today valid,breaking above 1.3250 would mix up things and may test 1.3300/350 area..
Best Regards
Thursday 05 Mar 2012 06:26
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Comment by Haitham653 on April 5, 2012 at 7:19am -
Update: According to 15 min chart a break below yesterday's low 1.3106 is indeed to resume the down trend, stability above 1.3106 may test 1.3210/240 zone..
Regards
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Comment by Haitham653 on April 5, 2012 at 7:47am
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Update: According to 30 min chart, stability below 1.3153 will keep pushing towards 1.3106, a 30 min close above 1.3153 may test 1.3210 , once again breaching below 1.3106 is indeed to resume the down trend testing at least the key support 1.3055..
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Comment by Reza Ajorloei on April 5, 2012 at 8:08am -
Hello Haitham
I'm agree with you, for today we should see range bound move in 1.3080 and 1.3170 before next decline take place, I see 1.3050/30 support for this week. Short entry is suggested as long as price is below 1.3210.
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Comment by Haitham653 on April 5, 2012 at 8:18am
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Hello Reza and thanks for your comments ..
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Comment by Haitham653 on April 5, 2012 at 8:32am
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The pair's already tested 1.3153 and declined towards 1.3130, a test to 1.3106 is suggested very soon...
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Comment by Haitham653 on April 5, 2012 at 9:48am
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Nice fall from 1.3160 , the pair may find support around 1.3055 , so book your profit quickly..
Regards...
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Comment by Priyank Nevatia on April 5, 2012 at 10:57am -
Hi Haitham653, whats your view on EURUSD from here. NYC opens in a little over an hour. Can we see the selloff to continue
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Comment by Haitham653 on April 5, 2012 at 4:40pm
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Hello Priyank Nevatia..
The EURO is so close from the psychological level 1.3000, anyway possible bottoming is suggested around 1.3020 during April , I think the pair should test 1.3180 once again...
Only a daily close below 1.3000 should test 1.2800 levels..
For more details read the monthly forecast for April , the last comment..
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Comment by Haitham653 on April 5, 2012 at 4:57pm
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Tomorrow is Good Friday Holiday , so the market is expected to be calm - choppy ?!
It may fluctuate a little bit at U.S open...
Probably I'd post nothing tomorrow ..
Regards..
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Comment by Ossbwy on April 5, 2012 at 7:35pm -
hay Haitham653,so what do you think about EURUSD on friday. it will go up now.. it will go to 1.3100 and more above.
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