EURUSD – Intraday Strategy (06 Dec 2013)

Recommendations: LONG positions above 1.3681 with 1.3710  & 1.3740 as next targets.
Alternative scenario:Stability below 1.3681 may lead for a slide towards 1.3640/1.3615
Description: The pair is so close from critical resistance at 1.3681, an hourly close above 1.3681 will target 1.3710/1.3740 levels, break of 1.3740 will open 1.3770/1.3832 levels.On the downside, stability below 1.3681 will keep 1.3640/1.3615 in sight , sustained trading below 1.3615 will open 1.3580/1.3540 levels.Note that stability above 1.3681 is likely to weaken 1.3740 levels...

 

EURUSD – Intraday Strategy (06 Dec 2013)

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Tags: EUR/USD, EURUSD

Comment by Haitham653 on December 6, 2013 at 6:47am

According to daily chart , daily %R (Williams) -1.3681 - 17 Oct 2013 high - is critical level , stability above this level is likely to test 1.3740/1.3832 levels..

Note that 1.3688 is also the 161.8% projection of 1.3399/1.3578 levels, so we have strong resistance around 1.3680 levels.... 

Comment by Scorcher on December 7, 2013 at 3:38pm

Dear Haitham,

This swing low to high's, 1.618% resistance is in which time frame?

Thanks in advance.

Comment by Haitham653 on December 7, 2013 at 4:11pm

Daily time frame and below  !!!

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