Trading Signal - 10/5/2013 - 10:00 GMT+3

Instrument: EUR/USD
by: Chief Technical Strategist Avramis Despotis

Previous Close

1.3041

Change

-0.84%

Current

1.3033

52 Week High

1.3711

52 Week Low

1.2040

30 Days ATR

0.0107

40 Weeks ATR

0.0259

Time

Trend & Condition

Support & Resistances

Comments

Position & Trade Probability

Position

Entry, Take Profit & Stop Loss Levels

Entry TP1 SL TP2 SL 1.3200 TP2 1.2800 SL TP2 -

1.3010 60min CHART Intraday Downwards Strong Neutral 1.2980 1.2940

1.3050 1.3080 1.3120

The market is in a downtrend and we are waiting for an entry signal to go SHORT below the 1.3010 support level. Only the upward break of 1.3060 would cancel the bearish scenario.

SELL Trade P.

Position 240min CHART Next 3 Days 1.2950 Downwards Strong Oversold 1.2800 1.2600 1.3070 1.3100 1.3150

Entry 1.3030 TP1 1.2950 Entry TP1 -

A Medium probability, entry signal to go SHORT was given at 1.3030 after the market completed a bearish trend reversal pattern. Only the upward break of 1.3200 would cancel the bearish scenario.

SHORT Trade P. Medium Position

Daily CHART Next 3 Weeks

1.2950 Upwards Weak Neutral 1.2700 1.2400

1.3355 1.3700 1.4000

The completion of trend reversal formations at 1.3030 has forced us to close our position earlier than we had planned.Now we are looking for the next oportunity to enter the market

BUY Trade P.

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