EURUSD - Intraday Strategy (13 Nov 2012)

Pivot: 1.2750

Recommendations: SHORT positions below 1.2705 with 1.2670 & 1.2640 as next targets.
Alternative scenario: The upside breakout of 1.2750 will open the way to 1.2790 & 1.2816
Comment: the pair is under pressure , the downside will resume today, only a break above 1.2750 will reverse risk in short term testing 1.2790/1.2816 levels....

Best Regards

Haitham

Views: 399

Tags: EUR/USD, EURUSD

Comment by Haitham653 on November 13, 2012 at 6:03am

The EURUSD trades now around the 100 SMA on daily at 1.2688,It might provide some support but we have strong resistance at 1.2739 and 1.2750, I think the EURO needs - strong data - to surpass 1.2739 - 1.2750 levels.

However; a daily closing (GMT) below 1.2688 would increase the risk towards 1.2500 Sept low...

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