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
Haitham

Views: 1640

Tags: EUR/USD, EURUSD

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!!!

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