Intraday trading analysis (tips) for EUR/USD 11 April 2011, we recommend, Enter long (Buy) EUR/USD above 1.444 for target of 1.4485 and 1.4515 also place protective stop loss below 1.4415.
Why to trade long: The pair has broke above the 1.4255 level and is strongly heeding towards 1.4555 level. Giving solid trading opportunity in this strong uptrend. Also EURO has strongly accumulated upward momentum due to hike in interest rate by ECB (European Central Bank) from 1% to 1.25% (A 0.25% Hike) and is firmly trading above its resistance level targeting next resistance area. RSI is gaining momentum and suggest for strong trending pair on 4 hour chart. So we can see further strengthening in this pair, the up-trend must continue and trading in the direction of the trend we recommend to trade long (buy) on this pair. I will be looking for buying opportunity as long as the pair remains above 1.4345 level on 4 Hour chart.