EURUSD - Weekly Strategy (12-16 Nov 2012)

EURUSD - Weekly Strategy: The Downside Prevails

Pivot: 1.2875

Recommendation: SHORT positions below 1.2875 with 1.2630 & 1.2560 as next targets.
Alternative scenario: The upside breakout of 1.2875 will open the way to 1.3020 & 1.3139
Comment: the pair is under negative pressure , found dynamic resistance at 1.2875 , buyers may try challenge 1.2747 - 1.2875 levels, If seen intraday trader can watch the market anticipating rejection to short the pair, only a daily closing above 1.2875 will reverse risk to the upside....

Best Regards

Haitham

Tags: EUR/USD, EURUSD

4 members like this

Comment by Jason on November 10, 2012 at 10:25am: Thanks.
Your view has been extremely informative.
Have a good weekend

Comment by Haitham653 on November 10, 2012 at 3:49pm: Thanks Jason...

Intraday traders can watch 1.2732(H1), 1.2816 (H1) and 1.2875(Daily), strong cap is expected around these levels...