EURUSD– Intraday Strategy (09 Oct 2013)

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EURO-Dollar-min

Recommendations: SHORT positions below 1.3537 with 1.3490 & 1.3460 as next targets.
Alternative scenario:The upside breakout of 1.3537 will call for a rebound to 1.3567/615 .
Description: The pair trades below its resistance at the 1.3537 levels, stability below this level is likely to add pressure on the 1.3490/1.3460 levels, below 1.3460 will have large bearish implication towards the 1.3415/1.3385 levels ahead of the 1.3325 levels.On the upside , break of the 1.3537 on hourly basis  would only delay the bearish move for retesting  1.3567 ahead of 1.3615 levels; to reverse risks to the upside the pair will have to hold above the 1.3615 levels on hourly closing basis, If seen ,It will target the 1.3645/710 levels.

 

MARKET DATA

UPCOMING ECONOMIC EVENTS

1 COMMENT

  1. EURUSD tries to bottom around 1.3485 levels , as long as this level holds, there’s a risk to return to the 1.3645 levels……keep an eye on 1.3537/48 levels…….

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