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EUR/USD Intraday Trading Analysis: Buy EURO Above 1.3585

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Intraday trading analysis (tips) on EUR/USD for 8 February 2011, we recommend Long (Buy) EUR/USD Above 1.3585 for target of 1.3655 and 1.3685 keep stop loss above 1.3565.

Why to go Long: EURO was trading higher on the 4 Hour chart and was supported by technical indicators. So we can see the pair to strengthen further and move towards its next resistance near 1.3655, so the trend must continue, and trading with the trend we recommend to go long on this pair. Technical indicators are in favor of long position.

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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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