EURUSD Today's Levels to Watch
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  1. #1
    Join Date
    Dec 2006
    Cairo, Egypt

    Default EURUSD Today's Levels to Watch


    Choppy trading and rangebound ahead of holidays season. I do not expect a daramatic move in either side today, but following the news we might have a brief volatility. Play breakouts carefully.

    Long term view: Bullish
    Intraday: mixed, slightly bullish

    Resistance for EURUSD 1.3212 (today's high 1.3211 a pip shy) next important resistance 1.3244, and 1.3252 is pivotal more important resistance.

    Support comes at yesterday low of 1.3140.

    We will try to trade a breakout of either side today.

    Long above 1.3252, target 1.3290

    Short below 1.3140, target 1.3082, and 1.3052

    A breach of 1.3252 will confirm 1.3052 a bottom, and favours a move back to 1,33 higher half. so you can hold on it.

    Good luck..
    Last edited by topchess; 12-22-2006 at 07:20 AM.

  2. #2
    Join Date
    Dec 2006
    In america
    looks like your short entry level was breached. do you think it will still go to 1.3082? It looks like it's finding resistance in this area (1.3120)

  3. #3
    Join Date
    Dec 2006
    Cairo, Egypt
    The short was triggered and made a low of 1.3108 before rebounding to 1.3140 and close at 1.3120.

    I think plenty of bids coming from 1.3100 figure, book profit @ 1.3120 and setup stops:

    Short below 1.3050, tp 1.3000, tp2 1.2980

    If recent recovery continues, long above today high, setup as following

    Long above 1.3212, tp 1.3244, tp2 1.3252

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