EURUSD - Double Bottom Under Development !
A shown on the chart posted below , the pair was rejected yesterday from 1.2965 levels, It formed a temporary bottom at 1.2965 levels, so we have double bottom pattern under development !
On the upside, the pair needs to hold above 1.3010 levels, to pave the way to 1.3075 levels, a clear break above 1.3075 will target 1.3185 and possible 1.3295 levels as second target.Anyway, according to 4 hour chart, above 1.3075, 1.3318 is strongly suggested !
On the downside , stability below 1.3010 will keep 1.2965 under pressure, losing 1.2965 levels will invalid this pattern and target 1.2900/850 levels.
Best Regards
Haitham
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Comment by onetzen on March 7, 2013 at 6:36am -
Noted with thanks, Mr. Haitham.
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Comment by Alexander B. on March 7, 2013 at 7:09am
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Any ideas on GDP/USD?
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Comment by Bero maatouk on March 7, 2013 at 8:41am -
morning dear haitham do you recommend to enter long after 4hr close above 3080 or 1 hr is enough haitham ??
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Comment by Haitham653 on March 7, 2013 at 8:55am -
Check out the daily chart below , we have positive divergence ,stochastic is diverging the price, a daily close above 1.3075 will open the way to 1.3300 levels before the next possible fall, a daily close below 1.2965 will invalid this view and target 1.2750 levels...
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Comment by Haitham653 on March 7, 2013 at 9:04am
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Bullish momentum breakout on the 1 hour chart at 1.3030, an hourly close above 1.3030 may surprise 1.3075 with a breach , stability below 1.3030 will keep 1.3000 under pressure !!
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Comment by Bero maatouk on March 7, 2013 at 9:18am
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okay haitham i see what you meant thank you for the explanation & for the chart and of course for ur support :) let's wait and see what's gonna happen today !!
good luck my friend
best ragards
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Comment by Haitham653 on March 7, 2013 at 9:42am
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EURUSD & GBPUSD , rebound to the upside on the horizon , 200/300 pips !!!
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Comment by Peter jcp on March 7, 2013 at 10:15am -
Have a good day Haitham - nice blog ;-))
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Comment by Haitham653 on March 7, 2013 at 2:39pm
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Looks like real double bottom !!!
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Comment by Haitham653 on March 7, 2013 at 2:45pm
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will the EURO reach 1.3160 today?!!
let's wait and see !!!
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