Intraday trading analysis (tips) on EUR/USD for 11 February 2011, we recommend Short (Sell) EUR/USD Below 1.3555 for target of 1.3505 and 1.3465 keep stop loss above 1.3575.
Why to go Short: EURO was seen weakening in 4 hour chart and was supported by leading technical indicators. So we can see the pair to weaken further and move towards its next support of 1.3465, so the trend must continue, and trading with the trend we recommend to trade short on this pair. Technical indicators are in favor of short position. However a strong support is at 1.3465 level so book all profit at that level.