EURUSD & Silver Outlook 10 FEB 2012

(EUR/USD Daily Outlook 10 Feb 2012)

Hello everyone..

The most important event happened yesterday , was breaking of 1.3252 -EMA100- on daily chart,according to daily chart the pair is supposed to find support around 1.3252 - 1.3275 , incase the pair drops below this area we have strong support area 1.3192 - 1.3222 , this area is protected by EMA 100 on daily chart.

Anyway, we need to keep any eye today on EMA 200 on 30 min chart currently 1.3229,the pair is supposed to pullback strongly from this level at least 70/100 pips..

The idea you may buy from any level above - EMA 200 / 30 M - is the best, in all cases your stop is around 1.3100, don't worry we're in strong upward trend , any drop is supposed to be limited and usually follows by strong pullback ?!!!

Trend Direction is Upward, the trend will remain valid as long as the daily close is above 1.3038, technical targets are around 1.3314 & 1.3395

Trading range: 1.3200: 1.3330

Support: 1.3192, 1.3150, 1.3100, 1.3038

Resistance: 1.3252, 1.3314, 1.3327,1.3395

Recommendations: Upon the chart and the explanation posted above; my recommendation is buying the pair around 1.3230 targeting 1.3290 & 1.3330, stop loss at 1.3100

(Silver Daily Outlook 10 Feb 2012)

This week we had another close above 33.93 ,tested 34.50, now the pair is trading so close from EMA 200 on hourly chart - 33.63 - below this level we have strong support area at 33.38 , the pair is supposed to pullback strongly from this level and heading towards 34.00 levels

You may buy from any of these levels 33.60, 33.38, 33.15 , in all cases your stop is 32.50

Remember, the upward trend is protected by the daily chart at 32.75 and the weekly at 32.80 , so any drop is supposed to limited?!!

Trend Direction is Upward, the trend will remain valid as long as the daily close is above 32.80 technical targets are around 36.60 levels.

Trading range: 33.00: 34.50

Support: 33.93, 33.40, 32.80

Resistance: 34.40, 34.75, 35.35

Recommendations: Upon the chart and the explanation posted above; my recommendation is buying the pair around 33.40 targeting 33.90 & 34.50 , stop loss at 32.50.

Best Regards

Haitham653

Friday 10 Feb 2012 08:00 AM

Tags: EUR, EUR/USD, Silver, USD, XAG/USD

2 members like this

Comment by Haitham653 on February 10, 2012 at 8:23am: Update: on 15 min chart the pair's already found resistance 1.3269 , a clear break above this level may test 1.3330 level , stability below 1.3269 would test 1.3220/30 before the big move !

Comment by No money on February 10, 2012 at 9:26am: Hi Haitham, thanks

Comment by Haitham653 on February 10, 2012 at 9:44am: EUR/USD has already breached above the descending triangle on 30 min chart, the pair is supposed to move up 90 pips at least,incase it fails to break above 1.3330 , it may test EMA 200 once again ?! see the chart above ?!!

Comment by Haitham653 on February 10, 2012 at 9:45am: Hi Aleksey...

Comment by Haitham653 on February 10, 2012 at 9:55am: Silver: update

According to RSI on 4 hour, there isn't enough bullish momentum to move up, the pair should test 33.00/33.40 to gain more momentum, pulling back from this level would give us a trend continuation pattern on 4 hour chart and it's supposed to lead for a massive bullish move toward 36.00 levels ?!!

Comment by sowMa on February 10, 2012 at 10:18am: hello Haitham eu going down

Comment by Haitham653 on February 10, 2012 at 10:30am: I guess the pair will keep ranging around 1.3252 till U.S open , at U.S open or later, it will fly towards 1.3300, what would happen next?!!

It may continue flying towards 1.3350 levels, or drop towards 1.3200 levels ?!!

Comment by sowMa on February 10, 2012 at 10:38am: thank you Haitham. your advice always helps me

Comment by Haitham653 on February 10, 2012 at 10:42am: Other option; if we test 1.3230/20 before U.S opening it will keep ranging around this level , during U.S session, it may slip a bit towards 1.3190 before flying towards 1.3330 levels

Comment by Haitham653 on February 10, 2012 at 10:49am: 1.3192, 1.3252, 1.3314 , these levels are related to EMA 100 on daily chart, yesterday we had a close above EMA 100 on daily - 1.3252 , the market usually tests EMA 100 - 1.3252 - before breaking above the next level 1.3314..

In few cases, it may test 1.3192 before heading towards 1.3314...

Comment