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EUR/USD Trading Analysis for 11 March 2011: Sell EURO Below 1.3795

By Bhaveek Patel Leave a Comment

Intraday trading analysis (tips) for EUR/USD 11 March 2011, we recommend, Enter short (sell) EUR/USD below 1.3795 for target of 1.3745 and 1.3715 also place protective stop loss above 1.3815.

Reason to go Short: The pair didn’t take support at 38.2 % retracement level and is heading towards the 50 % retracement level (1.3737). Also EURO has broken its support level and the pair is now heading towards next support. RSI support the down move and is in favor of the trade on 4 hour chart. So we can see further weakening in this pair, so the down-trend must continue and trading in the direction of the trend we recommend to trade short (sell) on this pair.

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Category: Forex Tags: Eur/Usd/ Forex/ Forex Trading

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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