The EURUSD corrected higher yesterday, topped at 1.2526 and closed at 1.2522..

Today I assume a bullish move testing the key resistance 1.2560, a clear break  above this level would lead for more gains testing the key resistance 1.2600...

Immediate support is seen around 1.2520 where bounce back to upside is expected, stability above the key support 1.2495 is indeed to keep the light bullish trend strong and intact, losing 1.2495 would resume the long term bearish trend testing the key support 1.2350....

Recommendations: Buying the pair around 1.2520 targeting 1.2560 & 1.2600, stop loss at 1.2460

Best Regards

Tuesday 05 June 2012  05:13 AM

 

 

Views: 731

Tags: EUR/USD, EURUSD

Comment by 3MM on June 5, 2012 at 6:25am

Good advice. thank you.

Comment by ROR on June 5, 2012 at 6:55am

plz Haitham any advice for silver? Thank you in advance

Comment by Farhan Yunus on June 5, 2012 at 7:42am

stoploss hit.... :-(

Comment by nader on June 5, 2012 at 7:53am

Hello haitham, now after losing 1.2495 euro @ 1.2450 do you think the long term is resumed and we are going to see 1.2400 - 1.2350 level?

I am shorting the pair from 1.2485, should take profit or wait

Thank you

Comment by Haitham653 on June 5, 2012 at 8:08am

Hello nader

I recommend exiting short since the pair may pullback toward 1.2495...

I need to  watch the pair around this level, probably I'll go short , not sure yet ?!

About resuming the bearish trend , we need at least H4 close below 1.2495 , daily is better....

Comment by nader on June 5, 2012 at 8:38am

Thank you very much Haitham

Comment by Haitham653 on June 5, 2012 at 8:58am

The next resistance is around 1.2470, a break of this level would test the main resistance 1.2500, a clear break above this level probably would lead for strong bullish move toward 1.2640 levels..

But in return , losing 1.2400  - which I think is unlikely today - would bring massive bearish move toward 1.2287...

This week don't risk more than 50 or 60 pips per trade... 

I think sideways market is suggested on Tuesday, Wednesday and Thursday !!!

Comment by Haitham653 on June 5, 2012 at 9:11am

Hello ROR

The silver is trading with low momentum the last 24 hours, the pair is trapped between 27.98 and 28.45...

Losing 27.98 might test 27.00 levels, but in return breaking of 28.45 might test 29.00 followed by 30.00 levels....

In the bigger picture, the silver has been trading sideways since Mid of May 2012..

The market is unclear , I think next Friday or next week it would move with a clear direction !!

Comment

You need to be a member of Forex Social Network to add comments!

Join Forex Social Network

Members

© 2014   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service

Online

Live Video