(EUR/USD Daily Outlook 10 Feb 2012)
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.
Friday 10 Feb 2012 08:00 AM