EURUSD – Intraday Strategy (29 Nov 2013)

Recommendations: LONG positions above 1.3557 with 1.3650 & 1.3690 as next targets.
Alternative scenario:The downside breakout of  1.3557 will call for a slide to 1.3520/489 .
Description: The pair trades above its support 1.3557 , stability above this level will build pressure on the 1.3650 ahead of 1.3690 levels, above 1.3690 will aim the 1.3740 levels.On the downside losing the key support 1.3557 on hourly basis would only delay the bullish run for retesting 1.3520/1.3489 , but downside below 1.3577 should be contained well above 1.3489/520 and rebound to the upside is suggested, below 1.3489 would weaken the current bullish run for retesting 1.3440/400 levels.

EURUSD – Intraday Strategy (29 Nov 2013)

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Comment by Tahir Khan on December 1, 2013 at 7:40am

There is a lot building up on Euro indeed.. There are pattern plays on euro at the moment and they suggesting a drop;more as a correction unless until they can go deeper. The bull movement if can come passing above 3630 initially but taking out 3650-60 ( simply put have to ) would imply we can have some bigger bull candles coming up on 4 hr candle or so.

In short Euro at some still and imp resis. Failure and a gradual drag lower will be the case scenario. In case we break higher the move above would be a faster one... 

WildCard... A break of 3625-30 happens but fail to surpass 3650-60 zone... and gets to have a 4 or 8 hrs close under 3620... This than be a swifter sell out as well...

Which implies 3625-55 pretty much is no man land's and if price getting stuck to it would play havoc with buyers and sellers.. Just my 2 cents...



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