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

Views: 614


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..


Comment by Haitham653 on April 5, 2012 at 7:47am

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.. 

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.

Comment by Haitham653 on April 5, 2012 at 8:18am

Hello Reza and thanks for your comments ..

Comment by Haitham653 on April 5, 2012 at 8:32am

The pair's already tested 1.3153 and declined towards 1.3130, a test to 1.3106 is suggested very soon...

Comment by Haitham653 on April 5, 2012 at 9:48am

Nice fall from 1.3160 , the pair may find support around 1.3055 , so book your profit quickly..


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 

Comment by Haitham653 on April 5, 2012 at 4:40pm

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..

EURUSD 2012 Overview

Comment by Haitham653 on April 5, 2012 at 4:57pm

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 ..


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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