EURUSD & Silver Outlook 22 FEB 2012
EURUSD Daily Outlook 22 Feb 2012
As shown on the 4 hour chart above , the pair found resistance at 1.3292, a test to 1.3260 is suggested before the next fall,today we may go down towards 1.3180/100, another 4 hour close below 1.3120 is going to take us towards 1.2930, on 1 hour chart, the bullish trend is losing momentum ?!!
Trend Direction is Upward ( weak), the trend will remain valid as long as the daily close is above 1.3044, technical targets are around 1.3314 & 1.3395
Trading range: 1.3000: 1.3300
Support: 1.3190,1.3159,1.3127,1.3100 , 1.3044 1.3000,1.2933
Resistance: 1.3285, 1.3330, 1.3390,1.3440, 1.3500, 1.3550
Recommendations: Upon the chart and the explanation posted above; my recommendation is selling the pair around 1.3260 targeting 1.3120 and 1.3030 , stop loss at 1.3360 or stop out with an hourly close above 1.3292 !!
Silver Daily Outlook 22 Feb 2012
As shown yesterday we had a bullish breakout , a bearish correction towards 33.80 is suggested before heading towards 34.50 and 35.00 level , and the most important the peak at 34.01 was taken out yesterday !!
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: 33.50 - 34.50
Support: 33.40, 33.10, 32.80, 32.50
Resistance: 33.93 ,34.40 , 34.75, 35.30
Recommendations: Upon the chart and the explanation posted above; my recommendation is buying the pair around 33.80 targeting 34.40 and 34.75 , stop loss at 32.90
Best Regards
Haitham653
Wednesday 22 Feb 2012 08:15 AM
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Comment by Haitham653 on February 22, 2012 at 8:48am -
4 hour close below EMA 33 - 1.3200 - is going to accelerate the down move suggested for today , pulling back from 1.3200 may test 1.3260 once again..
Regards...
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Comment by And Bro on February 22, 2012 at 9:28am -
Thank you Haitham. Your advice always helps me !
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Comment by Haitham653 on February 22, 2012 at 10:46am
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According to Williams on daily chart, a daily close above 1.3292 - bullish breakout - is going to take us towards 1.3550 levels, a daily close below 1.3186 - means topping at 1.3292 - is going to take us towards 1.2930 ?!!
If we don't have a daily close above 1.3292 or below 1.3186 today , consolidation followed by sudden and strong move up or down is suggested ?!!
By the way , Williams on 4 hour suggests possible bottoming around 1.3200 levels, I need to watch the next 2 or 3 four hour candles ?!!
If this scenario happens , the pair may break above 1.3320 ?!!!
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Comment by Haitham653 on February 22, 2012 at 12:26pm
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According to EMA 50 on monthly , we have 2 important resistances :
1.3211 low of Nov 2011 and 1.3362 low of Sep 2011..
We've already tested 1.3211, but 1.3362 not yet , incase the pair tests 1.3362 I think a massive bearish move may seen around this level and the pair probably is going to close below 1.3211 this month ?!!
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Comment by sabbir on February 22, 2012 at 12:34pm -
3362?
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Comment by sowMa on February 22, 2012 at 12:41pm -
you mean pair will reach 3362 ????
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Comment by sowMa on February 22, 2012 at 12:46pm
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you mean pair will reach 3362 ????
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Comment by Haitham653 on February 22, 2012 at 1:31pm
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It's not necessary , what I mean incase the pair moves up we have strong resistance around 1.3662?!!
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Comment by Reza Ajorloei on February 22, 2012 at 1:32pm -
Hello all
I think today we can see 1.3180 break and 1.3120 test.
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Comment by naivetrader1 on February 22, 2012 at 1:40pm -
EU still within the Penant .... Break or a False move? A mind, full of doubts & hesitation ....
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