EURUSD Daily Outlook 15 Feb 2012

According to the 4 hour chart, the pair bottomed yesterday at 1.3080 , last week bottomed at 1.3027, this week on inraday time frames the pair topped at 1.3283 and at 1.3215 ..

The bearish scenario happened yesterday didn't complete yet, but the bottom at 1.3080 suggested a test to 1.3215 or even a break above this level testing 1.3283..

Anyway, now we have minor resistance at 1.3175, it may push the pair down toward 1.3050 but it should pass1.3115 first ?!!

Conclusion: we are in range market support area 1.3024/1.3080 resistance area 1.3215/1.3283

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: 1.3000: 1.3200

Support: 1.3150, 1.3100, 1.3040, 1.300

Resistance: 1.3192 1.3252, 1.3314, 1.3327

Recommendations: Upon the chart and the explanation posted above; my recommendation is selling the pair around 1.3250 targeting 1.3050  stop loss 1.3350 OR buying the pair around1.3050 targeting 1.3200, stop loss at 1.2950

Silver Daily Outlook 15Feb 2012

The pair is moving in range and narrow area for the third day, we trapped between 33.15 and 34.00 level, according to 60 min chart, we are under negative pressure as long as 34.01 holds, but the pair is unable to make any clear break below 33.15..

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

Trading range: 32..50: 34.00

Support:  33.40, 33.10, 32.80 , 32.40

Resistance: 33.93 ,34.40, 34.75, 35.35

Recommendations: Upon the chart and the explanation posted above; my recommendation is selling the pair around 33.75 targeting 33.10  & 32.50 , stop loss at 33.40.

Best Regards

Haitham653

Wednesday 15 Feb 2012  08:55 AM

Views: 504

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

Comment by Haitham653 on February 15, 2012 at 9:03am

The separated level for today is 1.3115 , a break below this level would test the area 1.3080 / 1.3027

Stability above this level may test 1.3215 / 1.2383

Regards..

Comment by sowMa on February 15, 2012 at 9:13am

Thank you Haitham. Iam your big follower .

Comment by No more on February 15, 2012 at 9:31am

Hi Haitham, thanks.

Regards

 

Comment by Haitham653 on February 15, 2012 at 11:54am

30 min close below 1.3145 is supposed to test 1.3100/1.3080 level ?!

Comment by Haitham653 on February 15, 2012 at 6:29pm

The last bullish breakout happened on 4 hour was at 1.2930 , the bottom at 1.3027 is a trend continuation for 1.2930 ?!!!

So far the bullish scenario is on, losing 1.3027 is going to weak the uptrend , losing 1.2930 will completely eliminate the bullish scenario ?!!

Now we have a bearish breakout on 60 min chart, a bullish correction is on the horizon towards 1.3100/1.3150 before testing 1.3025/1.3000..to form a lower leg below 1.3050 to help the pair  pulling back  towards 1.3300?!!

Comment by ROR on February 15, 2012 at 8:06pm

Thank u Haitham and what about the silver now?

Comment by Haitham653 on February 15, 2012 at 10:25pm

The silver also in range mode exactly as the euro, tomorrow I guess it will be bullish for both Silver and EURO..

It may test 34.00/ 34.40 tomorrow ?!! so be careful of short ?!!

The same thing with EUR/USD , It may test 1.3200/1.3300 ?!!

Regards...

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