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Forex intraday Trading Analysis on EUR/USD: Sell EUR/USD Below 1.2985

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Forex intraday trading analysis (tips) on EUR/USD for 10 January 2011, we recommend Short (Sell) EUR/USD Below 1.2985 for target of 1.2935 and 1.2905 keep stop loss above 1.3010.

Why to go Short: This pair has shown negative breakout below 1.1.3005 level last friday, so the trend must follow till its first support level of 1.2905. So we expect the pair should further weaken to test the immediate support level of 1.2935 level on intraday basis. Hence trend should be bearish for today’s session (10 January 2011).

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About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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