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EUR/USD Intraday Trading Analysis: Sell EURO Below 1.3595

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Intraday trading analysis (tips) on EUR/USD for 7 February 2011, we recommend Short (Sell) EUR/USD Below 1.3595 for target of 1.3565 and 1.3535 keep stop loss above 1.3615.

Why to go Short: Last Friday after the NFP data release the EURO was showing strength so we can see the pair to weaken and move towards its next support near 1.3535, so the trend retracement must continue, and trading with the trend we recommend to go short on this pair. Technical indicators are showing mixed trend ahead.

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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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