EURUSD - Intraday Strategy (18 Jan 2013)
Pivot: 1.3404
Recommendation: SHORT positions below 1.3404 with 1.3335 & 1.3270 as next targets.
Alternative scenario: The upside breakout of 1.3404 will open the way to 1.3450/1.3485.
Comment: As long as the pair trades below 1.3404, eyes on 1.3270, above 1.3404 will resume the whole rally to 1.3450/1.3485 levels, simply you can short at 1.3390 with stop at 1.3410, and put pending order buy stop at 1.3410 with stop at 1.3390...
Best Regards
Haitham
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Comment by Haitham653 on January 18, 2013 at 5:39am -
According to momentum indicators from 15 min to hourly chart, EURUSD loses the upside momentum , 1.3404 is strong resistance and may push the pair lower to 1.3270 levels, but If 1.3404 fails, then strong bullish move is expected to 1.3450/1.3485 levels, this resistance exactly as 1.3308...!!!
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Comment by Predrag on January 18, 2013 at 5:51am -
I put two pending orders, as you said.
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Comment by Peter jcp on January 18, 2013 at 8:57am -
Hi Haitham - I think so far you have got this spot on. We have not made 3400 atm and now for me its whether supports let go below 3350 and 3320/30 areas for an attempt on your lower target. I agree thought if we have another attempt over 3400 and 3405 - it will try up with 3430 - 50 and 85 all possibles.
Have a great day
Regards
Peter
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Comment by Haitham653 on January 18, 2013 at 9:00am
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According to 30 min chart. bearish momentum breakout at 1.3367 eyes on 1.3335 and 1.3270 as long as the pair trade below 1.3397, a 30 min close above 1.3397 will reverse risks to the upside and target 1.3450/1.3485 levels..
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Comment by Haitham653 on January 18, 2013 at 9:08am
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Hi Peter...
I completely agree with you..
Regards
Haitham..
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Comment by Haitham653 on January 18, 2013 at 9:30am
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First target reached...I exit short at 1.3335
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Comment by Predrag on January 18, 2013 at 9:32am
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Me too. I booked 50 pips today, thanks to you Haitham!
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Comment by Fx Master on January 18, 2013 at 9:37am -
when to enter market now?
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Comment by Haitham653 on January 18, 2013 at 9:51am
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Hi Fx Master
I'm not sure about that but this is how I see the market today!!!
At New York open, players may dip the pair to 1.3300/1.3270 levels, then it will rise to close around 1.3350/70 levels...
For me I'm still holding "buy stop" at 1.3410 !!
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Comment by Haitham653 on January 18, 2013 at 10:05am
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If the EURO fails to break above 1.3404 today, most likely it will success next week, I think it's just a matter of time before testing/ breaking 1.3500 levels...
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