EURUSD Intraday Forecast Mar 05 2014

Recommendations: LONG positions above 1.3693 with 1.3750 & 1.3775 as next targets.

Alternative scenario:The downside breakout of 1.3693 will call for a slide to 1.3660/1.3625.

Description: Intraday outlook in EURUSD remains on the upside as long as levels 1.3720/1.3693 hold on hourly basis, break of 1.3775 on hourly basis is needed to resume the upside offensive, If seen It will target the 1.3800/1.3830 levels , further out will aim the 1.3890 levels. On the downside , support at 1.3720 ahead of 1.3693 (main), sustained trading below the 1.3693 levels would reverse risks towards  the 1.3660 levels ahead of the 1.3625 levels.

Support & Resistance : 1.3600 , 1.3625,1.3660, 1.3693 (Pivot)  , 1.3720 , 1.3775 , 1.3800


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Tags: EURUSD

Comment by Michel Miles on March 5, 2014 at 6:48pm

Hi Mr. Haitham! An ECB source predicted there would be unanimous agreement to end so-called sterilisation of the bond purchases under the bank's Securities Markets Programme (SMP). So do you think a sell off could be expected tomorrow? http://uk.reuters.com/article/2014/03/03/uk-ecb-policy-idUKBREA2212...

Comment by Haitham653 on March 6, 2014 at 5:19pm

Hi Mr. Miles...

sorry for late , didn't notice your comment....

Anyway , the EURO zone is in a good health , at least the upcoming months...

Forget about media talk .........

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