EURUSD - H4 Trade Setup - 21 Dec 2012

At the chart posted above we have 2 patterns , one is bearish in short term , the sell zone is between 1.3235/1.3272, the pair may fall below this area or test this area then drop to 1.3175/1.3125 levels, the second pattern is bullish in long term but a breach above 1.3308 is indeed to activate this pattern, any breach even with few pips above 1.3308 will target 1.3380/1.3550 levels , If the pair breached above 1.3308 then failed to close on H4 above this levels, this scenario would only delay the bullish move to 1.3380/1.3550 levels, If seen we might see some pause or small correction before flying to 1.3380/1.3550 levels...

SHORT EURUSD below 1.3272 with 1.3215 & 1.3175 as next targets, stop at 1.3310.
LONG EURUSD at 1.3310 with 1.3380 & 1.3550 as next targets, stop at 1.3180.

Best Regards

Haitham

 

Views: 629

Tags: EUR/USD, EURUSD

Comment by Haitham653 on December 21, 2012 at 6:30pm

Bearish momentum breakout on the 4 hour chart at 1.3173, 4 hour close below this level will open the way to 1.3080/1.2970 levels, 4 hour close above 1.3218 will flip bias back to the upside and target 1.3300 levels...

Comment

You need to be a member of Forex Social Network to add comments!

Members

Join us on Facebook Now!!!

Hi everyone

This website was closed June 2nd 2015.

Please, join us now at Facebook where you can keep sharing your thoughts about Forex with our community of traders:

https://www.facebook.com/superfxnews

OVER 2,500 READERS!!!!

© 2015   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video