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EUR/USD Intraday Trading Analysis for 18 Feb 2011: Buy EURO Above 1.3605

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Intraday trading analysis (tips) on EUR/USD for 18 February 2011, we recommend Long (Buy) EUR/USD Above 1.3605 for target of 1.3665 and 1.3695 keep stop loss below 1.3585.

Why to go Long: EURO was showing strength on 4 hour chart and is likely to bounce from those (1.36) levels. So we can see the pair to strengthen further and move towards its next resistance of 1.3665, so the trend must continue, and trading with the trend we recommend to trade 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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