EURUSD Daily Outlook 19 Jun 2012

As shown on the chart posted below , the pair trapped between 38.2% retracement (1.2745) and 23.6% retracement (1.2570) of the rally (1.3485/1.2287)....

Yesterday, we had a break below the inner trend line as shown on the chart around 1.2620 , today the pair is testing the same point , williams and bollinger bands suggest - possible gains - toward 1.2680 area before the next fall, a clear break above 1.2680 may pass 1.2745 easily towards 1.2900 levels !!!! but in return RSI suggests that bulls are running out of GAS , an hourly close below 1.2557 would lead for massive bearish towards the main support 1.2440.....losing the last one would bring another bearish move toward 1.2287 area...

Recommendations : Selling the pair with an hourly closing below 1.2557 targeting 1.2485 & 1.2440 , stop loss at 1.2620...

Best Regards

Tuesday 19 June 2012 12:47 PM

Tags: EUR/USD, EURUSD

4 members like this

Comment by Predrag on June 21, 2012 at 2:25pm: Oh, I hope it will bounce to 1.2700!

Comment by Predrag on June 21, 2012 at 2:37pm: I think this is now bounce

Comment by Haitham653 on June 21, 2012 at 4:48pm: Sideways move is suggested now between 1.2560/1.2600 before the next move !!!!!

Comment by Predrag on June 21, 2012 at 6:41pm: OK, I follow every your post here

Comment by Haitham653 on June 21, 2012 at 8:01pm: As shown on the 60 mins chart below , RSI suggests a bullish correction towards 1.2620 zone before falling towards 1.2530 & 1.2440 levels....add to that losing 1.2557 opens too many ways towards 1.2440 , so any bullish move above 1.2557 is supposed to be followed by a big fall...

Recommendations : Selling the pair around 1.2620 , targeting 1.2530 & 1.2440 , stop loss 1.2710

Comment by Predrag on June 21, 2012 at 9:01pm: I will watching for this tonight

Comment by Haitham653 on June 22, 2012 at 5:25pm: EURUSD trades today with 40/50 pips range as expected, I think this scenario - 40/50 pips range - will continue during the next week - 2 or 3 days - or the whole week .....before the next move (more likely fall) ?!!!!

Comment