Intraday trading analysis (tips) for EUR/USD 3 March 2011, we recommend, Enter long (buy) EUR/USD above 1.3845 for target of 1.3875 and 1.3915 also place protective stop loss below 1.3815.
Reason to go Long: The ECB has left the interest rates unchanged at 1%. Also EURO had tested its support level and the pair is now rebounding from that support. RSI support the up move and is in favor of the trade on 4 hour chart. So we can see the pair to strengthen further and move towards its next resistance which is at 1.3855 level, so the up-trend must continue and trading in the direction of the trend we recommend to trade long (buy) on this pair.