Thoughts and ideas for today (23 Jan 2013)

As you see in the chart below, the pair is trapped in tight narrow range, the key support level is 1.3298/1.3310 the key resistance level is 1.3351/1.3371...

You may buy above 1.3310 with stop below 1.3298, target between 1.3351/71 levels, on the breakout of 1.3371, you may also long the pair with stop below 1.3350 and target at 1.3400/1.3450/1.3500...

You may also sell below / around 1.3351, stop above 1.3371, target around 1.3310/1.3298 levels on the breakout of 1.3298 you can short the pair with stop above 1.3310 and target at 1.3257 1.3230 and 1.3189.

Best Regards

Haitham

Views: 2216

Tags: EUR/USD, EURUSD

Comment by Haitham653 on January 23, 2013 at 6:06am

Main support is at 1.3298, main resistance is at 1.3371...

Comment by Haitham653 on January 23, 2013 at 6:58am

use the 15 min close to confirm the breakout below 1.3298 or above 1.3371...

Comment by Haitham653 on January 23, 2013 at 8:32am

The EURUSD is under strong pressure, will it fall 100 pips see the chart below !!

Comment by Nsaale Kalule on January 23, 2013 at 9:48am

Looks like a weak rally, might fall back to 1.3300

Comment by kamdi eloji on January 23, 2013 at 10:23am

morning peter , morning all , just came out of scalp buy peter at 33428 and currently its stuck there ? do you reckon a further upside movement or a retracement ?

Comment by A.KHAN on January 23, 2013 at 11:05am

Will be going same as 17 janurary

bullish confirms it now

Comment by Haitham653 on January 23, 2013 at 11:59am

According to 15 min chart, strong bullish move on the horizon as long as trades above 1.3323, a breach - 15 min close is better - below this level will invalid the bullish view and may dip the pair below 1.3300 levels ,On the upside a break of 1.3371 is indeed to resume the bullish to 1.3400 levels....but over all outlook , the pair is bullish above 1.3323 levels !!!

According to the daily chart, the daily %(R) suggests more loses, the daily %(R) should dip towards the oversold area at least before the next move, only a daily close above 1.3398 will invalid this view !!!!

Comment by Haitham653 on January 23, 2013 at 12:45pm

Will the EURO fall from 1.3350 levels, check the 1 hour chart below !!

Comment by Haitham653 on January 23, 2013 at 12:58pm

We have bearish divergence on daily, on the 1 hour chart trades inside a downward channel, most likely will fall to 1.3220/200 levels near the lower line of the downward channel !!!

But a break of the upper line of the downward channel may invalid the bearish view !!

Comment by Uschi on January 23, 2013 at 1:19pm

does anybody have any opinion about the impact of the following news on EU

Obama Agrees To Short Debt Ceiling Extension
The White House Tuesday said a short-term extension of the federal debt ceiling would be acceptable. The proposal, put forth by Republicans in Congress, is expected to win approval Wednesday.
http://www.rttnews.com/Media/VideoNews.aspx?ID=58313

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