As we all know , the EURUSD has been bullish for the last 3 months, one of the major things that makes the EURO gain is the U.S presidential election !!!

Now I have doubts that U.S will turn everything upside down, I think - not sure - bulls time probably is over or will over very soon !!!,

Anyway, I think the long term bearish trend may resume soon, we'll find out the next few coming weeks, technically, according to monthly chart, as long as 1.3171 holds, the bearish trend may resume strongly at any moment ..

As long as 1.3171 holds, the EURO may end this month or the next month somewhere around 1.2400 levels....

Best Regards

Haitham

 

Views: 1425

Tags: EUR/USD, EURUSD

Comment by john richmond on December 12, 2012 at 5:42pm
hi sir would you mind to explain how the us president election affecting the eurusd bullish. thanks
Comment by Haitham653 on December 12, 2012 at 6:03pm
Comment by ravi on December 13, 2012 at 2:15am

eu @current strength  it looks hard to go 1.2400 but who knows any thing can possble but 1.3200 is the main level to cross on up side

Comment by Haitham653 on December 13, 2012 at 6:38am

Just let the U.S make up one small problem (crisis) , then enjoy the free fall for the EURO !!!

The euro took his glory during the past three months,I think its enough !!!

Bears are supposed to dominate the market soon , on the monthly chart, we have strong reversal pattern , inside bar pattern , a long bearish candle with 300/500 pips length is suggested  this month or next month as long as 1.3171 holds....

Comment by daniel ismail on December 13, 2012 at 6:57am

what means by '1.3171 holds' ??

Comment by Haitham653 on December 13, 2012 at 7:19am

Any breach above 1.3171 is supposed to weak the bearish outlook , but as long as the monthly close is below 1.3171 we have strong chance for testing at least 1.2501 Sept 2012 low !! below 1.2500 will open the way to 1.2000 levels...above 1.3171 will open the way to 1.4000 levels.

Comment by Haitham653 on December 13, 2012 at 8:23am

I think the pair is trapped inside 1.3171/1.2501 levels ,Sept 2012 high and low (inside bar) , most likely we'll continue  this way the next few coming months ! before breaking up / down !

Who knows?!! may be the whole next year !!

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