EURUSD - Further Downside Risk, Pressure On The Key Support 1.3170 !

The EURUSD maintained a bearish momentum according to momentum indicators,and reversed risks to downside last week , this scenario suggests that rejection from the key resistance 1.3308 still in progress and might push the pair further lower,now pressure will be on the key support 1.3170, EURUSD will have to hold below 1.3170 on a daily closing basis to push the market for further downside losses, if seen this scenario could push the pair further lower towards 1.3030/1.2875 levels, where a breach will completely change the daily trend from bullish to bearish and open the way to 1.2500 levels , Alternatively a failure to hold below 1.3170 could mean a return to the 1.3300 levels, a daily close above the key resistance 1.3295 will reverse risk to the upside and target 1.3385 where a breach will turn focus on the key resistance 1.3590.

Best Regards

Haitham

Tags: EURUSD, USD/USD

2 members like this

Comment by Haitham653 on December 31, 2012 at 3:40pm: Thanks Leon, your words mean a lot , I will continue to share / post, even if only one person reads my posts.. definitely I won't stop!!!

Thanks again...

Comment by shawnw on December 31, 2012 at 4:30pm: Haitham

I have been following your posts for a few weeks. I just wanted to say thank you for providing this information to us on behalf of all traders here i want to wish you a happy and prosperous new year. God bless you and your family

Comment by Franck Max on December 31, 2012 at 6:06pm: Haitham,

You have my total respect and full admiration. I bet many many many members quietly 'devour' your posts daily :).. I hunt for them every day if not every couple of hours. I am very new to this Forex world and you keep me going! I came very close to blowing my account, but I am hanging in here. I recovered my capital and am happier. Please do keep posting as you just promised, and even more on GBPUSD please. I noticed that EURUSD posts have been dominant lately, but yep, whatever you post is avidly read by myself and dozens more.. My very best wishes to you for the New Year 2013. Thank you for all. May God bless you and your loved ones.

FranckMax

Comment by Haitham653 on December 31, 2012 at 7:09pm: shawnw, thanks.. U R welcome...

Comment by Haitham653 on December 31, 2012 at 7:42pm: Franck, thanks for you nice words, for sure I'm gonna post for GBPUSD every time I see a good chance...

Thanks again..

Comment by Fernando Ustoa Alonso on January 1, 2013 at 10:54pm: Acabo de ingresar, y me parece un analisis muy claro y una muy buena información

Gracias

Comment by hmmalik on January 2, 2013 at 11:41am: haitham latest analysis

Comment by paul chijioke okeke on January 2, 2013 at 5:57pm: Hi sir,want to know when you will return to trade for the year cos we are missing you Sir.

Comment by kalpana mahajan on January 3, 2013 at 3:33am: Good morning Haitham. A dozen of my friends r awaiting ur analysis for d day, Pl. tell us ur view on EUR/USD. Thanks n Regards.

EURUSD - Further Downside Risk, Pressure On The Key Support 1.3170 !

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