empty
 
 
22.03.2012 04:12 PM
EUR/USD Intraday Technical Analysis and Trading Recommendations for March 22, 2012

This image is no longer relevant

 

According to the linear regression channels the chart presents the following:
Yesterday, the EUR/USD currency pair showed massive bearish price action after visiting the resistance level 1.3283 which corresponds to the upper limit of all depicted channels roughly.
The EUR/USD pair has confirmed the marked Head & Shoulders reversal pattern with closure below the neck-line at 1.3180. Howeverб the pair found resistance at 1.3135 corresponding to the lower limit of the violet channel also breaking the lower limit of the bullish yellow channel depicted on the chart.
Yesterday, we mentioned the importance of intraday resistance area 1.3240-1.3260 as a good SELL entry which is running in profit now.
The market indicates an intraday SELL entry at 1.3185 - 1.3200 which corresponds to the backside of the broken yellow channel and the neckline of the H&S pattern.
Stop Loss is to be placed above 1.3255 and Profits should be taken at 1.3135 and 1.3105.

 

Summary
Urgency
Analytic
Mohamed Samy
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback