EURUSD - Intraday Strategy (20 Dec 2012)

Pivot: 1.3187

Recommendation: LONG positions above 1.3230 with 1.3270 & 1.3300 as next targets.
Alternative scenario: The downside breakout of 1.3187 will open the way to 1.3143/1.3127.
Comment: Bullish momentum breakout has been completed at 1.3233, added to that the pair back to trade inside the bullish channel, as long as 1.3187 holds, eyes on 1.3300 /1.3400 levels, a break below 1.3187 will delay the bullish move and target 1.3143/1.3127 levels.

Best Regards
Haitham

Views: 994

Tags: EUR/USD, EURUSD

Comment by Haitham653 on December 20, 2012 at 11:25am

Starting from this month, the EURO starts rising and the gold falling, I was wondering why !!

Simply the EURO has to go up and gold has to go down , To help the euro zone with debt repayment, they can't both go up or down at least till year end..so EURO players will rise the EURO and dip the gold , If both go up or down European Union will be broken quickly !!

Most likely the EURO will try end this year somewhere between 1.3400/500 levels.. 

Comment by Haitham653 on December 20, 2012 at 2:51pm

Strong bullish pattern almost completed on the 4 hour chart, 4 hour close above 1.3308 will complete the pattern and target 1.3550 levels, below 1.3308 will bring consolidation with bullish bias...

Comment by AHMED SAMIR on December 20, 2012 at 3:44pm

but its going so down now haitham ,, dont u think other scenario ??  

Comment by Haitham653 on December 20, 2012 at 4:02pm

Hi Ahmed..

When I posted my strategy it was 1.3245, then it flew to 1.3395 , second target almost achieved, now the pair under pressure , below 1.3230 would threaten 1.3190 levels, above 1.3277 would challenge 1.3308 !!!  

Comment by Haitham653 on December 20, 2012 at 4:39pm

Intraday bias is neutral below 1.3308, a break below 1.3187 will extend the consolidation to 1.3127, but this level is supposed to conclude consolidation from 1.3308 and bring another rally to 1.3300 levels, above 1.3308 will target 1.3380/1.3550 levels, a break below 1.3127 will change intraday bias from neutral to bearish and target 1.3040/1.2970 levels....  

Comment by Umit on December 21, 2012 at 7:34am

salam haitham…waiting for your daily analysis with impatience !! 

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