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EUR/USD Intraday Trading Analysis for 10 Feb 2011: Sell EURO Below 1.3645

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Intraday trading analysis (tips) on EUR/USD for 10 February 2011, we recommend Short (Sell) EUR/USD Below 1.3645 for target of 1.3615 and 1.3575 keep stop loss above 1.3665.

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 1.3615, 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.

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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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