Intraday trading analysis (tips) for EUR/USD 21 February 2011, we will recommend, Enter long (Buy) EUR/USD only above 1.3635 for target of 1.3685 and 1.3725 also place protective stop loss below 1.3615.
Why to go Long: EURO saw a breakout above 1.36 level, so the Euro is set to bounce at every lower level. Technical indicators are in favor of the trade on 4 hour chart. So we can see the pair to strengthen further and move towards its next resistance which is at 1.3685 level, so the up-trend must continue and trading in the direction of the trend we recommend to trade long (buy) on this pair.
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