EURUSD - Intraday Strategy (03 Jan 2013)

Pivot: 1.3185

Recommendation: SHORT positions below 1.3185 with 1.3110 & 1.3050 as next targets.
Alternative scenario: The upside breakout of 1.3185 will open the way to 1.3240/1.3285.
Comment:According to daily chart, the pair is under pressure, broke below 1.3170 but so far we didn't have a daily close below this level, below this levels we have another main support level at 1.3126 - 05 Dec 2012 high - and the monthly pivot, a daily close below 1.3170 should weaken 1.3126, added to that the pair's still trading in an upward channel , the daily %(R) is in oversold area, so strong volatility is expected in both directions, the 1 hour chart is strongly bearish below 1.3185, above this level will reverse risks to the upside and target 1.3240/80 levels.

Best Regards

Views: 1646


Comment by kalpana mahajan on January 3, 2013 at 6:20am

Thanks Haitham.

Comment by Madeen on January 3, 2013 at 8:16am
See u at 3100 ;-)
Comment by Madeen on January 3, 2013 at 8:43am
I even think we are going to 3190s
Comment by Haitham653 on January 3, 2013 at 10:30am

First target reached at 1.3110, at this level we have strong support , it might push the pair once again to 1.3170 levels, but If 1.3107 fails, expected the pair to weaken further towards 1.3050 levels....

If the pair closes today - GMT - below 1.3126, eyes will be on 1.2875 levels...

Comment by Franck Max on January 3, 2013 at 10:31am

1.3110 target reached. Woo hoo! Thanks Haitham!

Comment by Haitham653 on January 3, 2013 at 10:51am

According to 1 hour chart, rebound to 1.3170 on the horizon !!!

Comment by Naranbaatar Bayar on January 3, 2013 at 10:58am

so haitam does it mean that do not sell?

Comment by Haitham653 on January 3, 2013 at 11:01am

Hi Peter

I agree with you...

Thanks for your comment...

Comment by Madeen on January 3, 2013 at 11:05am

can we buy here for 3170??

Comment by Haitham653 on January 3, 2013 at 11:09am

Hi Naranbaatar...

I prefer waiting for the next 4 hour close after 50 min from now, If closes above 1.3107, it might rebound to 1.3170..but overall I like to see the daily close today , It's very important!!!


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


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:

OVER 2,500 READERS!!!!

© 2015   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service


Live Video