EURUSD - Intraday Strategy (19 Dec 2012)

Pivot: 1.3187

Recommendation: LONG positions above 1.3207 with 1.3250 & 1.3290 as next targets.
Alternative scenario: The downside breakout of 1.3187 will open the way to 1.3143/1.3127.
Comment:The pair is strongly bullish, any down move is supposed to be contained well above 1.3187 /1.3207 levels ,and bring another rally to 1.3290 levels, a break below this area might delay the bullish move and open the way to 1.3143/1.3127 levels.

Best Regards
Haitham

Tags: EUR/USD, EURUSD

9 members like this

Comment by john richmond on December 19, 2012 at 5:19am: what will stop eu going up if there any?

Comment by Haitham653 on December 19, 2012 at 5:51am: It's too early to talk about reversal, only a daily close below 1.3127 will take us to the neutral zone and bring consolidation testing 1.3040/1.2970,If seen ; this level is supposed to conclude consolidation and bring another rally...

For the upside according to daily chart, we should test 1.3290, a daily close above this level will test 1.3380, above 1.3380 will look for 1.3550 levels..

According to weekly, we have strong resistance around 1.3290 but a daily close above it should weaken this resistance !!

Comment by 1forex.vn on December 19, 2012 at 6:38am: Hi Haitham, I don't see any resistance at @1.3290 in my chart. Is it 1.3290 or 1.3390 ?

Thanks for you posts. It's great!

Comment by Haitham653 on December 19, 2012 at 7:45am: Hi 1forex..

I have resistance on daily at 1.3290 and 1.3380, my weekly chart suggests possible rebound from 1.3290 levels before flying to 1.3500 levels, a daily close above 1.3290 will extend the bullish move to 1.3400/1.3500 levels...

Comment by Haitham653 on December 19, 2012 at 7:48am: EURUSD finds bid around 1.3235, it will try attack 1.3290 during the few coming hours...

Comment by Hammad on December 19, 2012 at 8:57am: hmm exactly Mr. Haithem

Comment by Peter jcp on December 19, 2012 at 9:23am: Have another good day Haitham - I think if we break over 3255 and 63 then we will try higher still - but if not and 29 - 24 and 3220 go it might test under 3200 and your 3187 area. regards Peter

Comment by Umit on December 19, 2012 at 9:24am: hi haitham,

do you think a positive conclusion in fiscal cliff would trigger profit taking sales??

thanx for your comment

Comment by Haitham653 on December 19, 2012 at 9:36am: Yes Peter , you are right..

According to my chart, 30 min close above 1.3255 should bring more upside gains, only a 30 min close below 1.3229 - current low- might delay and weaken the current bullish run and test 1.3210/1.3190 levels..

Comment by PRAKASH RANJAN on December 19, 2012 at 10:15am: Once again as u told Euro flew off...exactly like y'de. Thanks Mr Haitham for making us also FLY.