Comment by Pipomatic on October 23, 2012 at 7:26am

Hi Haitham. I agree on the 1.3080 level ..

If the pair pushes lower then last week lows then we will have a confirmed 4h change of trend (LH and LL). 1.3010 zone seems it will be hard to break. I have stronger supports based on the 4h TF at this levels:

• 1.3015 / 50% fib of the last 4h swing high
• 1.2992
• 1.2960
• 1.2920
• 1.2880/85
• 1.2835-15 zone

Regrads

Comment by Haitham653 on October 23, 2012 at 8:18am

Hi Pipomatic and thanks for your comment...

Anyway , A failure to close today above 1.3082 would weaken the psychological level 1.3000 and threat 1.2930 levels !!

Comment by Haitham653 on October 23, 2012 at 12:33pm

Looks like risk is going to be reversed to downside !!

Comment by Pipomatic on October 23, 2012 at 1:21pm

4h trend now down .. LH and LL

Comment by Haitham653 on October 23, 2012 at 1:37pm

According to H4 RSI, we still in upward mode , the pair will try find support above 1.2930 and reverse toward 1.3082 then 1.3139 levels !!!

If 1.2930 fails , there will be a risk for 1.2802 !!!

However, on a daily basis , we have strong support at1.2960 , I recommend observing trading on intraday time frames to anticipate any bullish reversal pattern !!

Comment by Pipomatic on October 23, 2012 at 1:43pm

Roger that! Tnx

Comment by Haitham653 on October 23, 2012 at 2:48pm

USD/INDX : Bullish breakout momentum is suggested on the daily chart, If this scenario completed the next target would be around 81.30 then 82.60 , waiting for today's closure !!!

Comment by Haitham653 on October 23, 2012 at 6:50pm

Check the 4 hour chart below , EURUSD has breached below the upper border of bull flag that comes through 1.3171 - 1.3070 , this scenario might threaten the major trend line on daily that rises from last July !

The chart suggest a test to 1.3000 before heading towards 1.2860 levels !!!

 

Comment by Haitham653 on October 23, 2012 at 7:02pm

H1 closing below 1.2951 would bring further losses, most likely would test 1.2860 levels !!

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