Comment by Haitham653 on January 16, 2013 at 6:37am

After breaking below 1.3335, EURUSD is in extended bullish divergence, bearish in short term and bullish in long term , the trend on the 4 hour hour and daily still strongly bullish , the pair needs to break 1.3404 to resume the whole rally to 1.3450/1.3600 levels, but a breach below 1.3247 will extend the bearish move to 1.3139/1.3030 levels..

On the daily chart, as long as the pair trades above 1.3279 - 10 Jan 2013 high - on a daily closing basis , eyes on 1.3450/1.3590 levels, a daily close below 1.3279 will bring deeper correction to 1.3000 levels...

Comment by Haitham653 on January 16, 2013 at 11:55am

EURJPY: break of 117.65 will reverse risks to the upside and open the way to 118.85 levels, stability below 117.65 will keep the pair under pressure with risk to 115.97 levels (02 Jan 2013 high)....

Comment by Haitham653 on January 16, 2013 at 12:10pm

USDJPY: The pair is under pressure as long as trades below 88.93 with risk to 88.00/87.37 levels, above 88.93 will call for a rebound to 89.40/89.70 levels , above 89.70 will resume the whole rally to 91.00 levels...

Comment by Fx Master on January 16, 2013 at 12:34pm

what about euro now?

Comment by Haitham653 on January 16, 2013 at 12:57pm

According to 1 hour chart, consolidation from 1.3404 is supposed to be contained above 1.3247 to bring another rally to 1.3404 levels, above 1.3404 will resume the whole rally to 1.3500 levels..

BUT If 1.3247 fails, expect EURUSD to weaken further to 1.3189/1.3139 levels...

On the daily chart, as long as the daily close is above 1.3279, strong and sudden rise is suggested a daily close below 1.3279 will delay the bullish move and suggest deeper correction to 1.3189/1.2997 levels...

Comment by Fx Master on January 16, 2013 at 1:18pm

thanks a bunch :)

Comment by Haitham653 on January 16, 2013 at 6:59pm

Conclusion:

According to 1 hour chart, EURUSD will have to break and hold above 1.3335 to push the market for further upside gains,if seen this scenario could push the pair further higher towards 1.3404 where a breach will turn focus on the key resistance 1.3485 then 1.3590.Alternatively a failure to hold above 1.3335 will keep 1.3247 under pressure, below 1.3247 will open the way to 1.3189/1.3139 levels,however; as long as the daily close is above 1.3279 - 10 Jan 2013 high - the risk remains to the upside...

Comment by Hitesh Jain on January 17, 2013 at 5:08am

sir what do you think about gold??

if include in your analysis blogs it would be great....sir

Comment by Haitham653 on January 17, 2013 at 5:42am

Gold is under pressure as long as trades below 1685,but consolidation from 1685 is supposed to be contained above 1673 to bring another rally to 1685, above 1685 will resume the whole rally to 1710 levels, however; If 1673 fails expect GOLD to weaken further to 1664/1656 levels..

Comment by Haitham653 on January 17, 2013 at 6:29am

EURUSD: I have the same recommendations as yesterday...

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