EURUSD pair has advanced after the free fall from the debt crisis led by Italy, but yesterday after the bailout package has been declared, we have seen a bounce and recovery in the EURO and we see that buying has resumed in it. So we are bullish for short term as well as intraday trading. Fundamentals has now strengthen for the EURO as Greece crisis was one of the big issue for EURO. We see that today’s trend to be bullish so trading with the trend we are only looking for the buying opportunities as long as the EURO remains above the 1.4385 level. So trading with the trend we will buy EURO around 1.4385 for targets as 1.4455 and then 1.4485 zone in intraday trade. Also major technical indicators are showing clear bullish trend for intraday. Also we advice traders to keep their stop loss with 1:2 risk reward ratio and try to trade with good money management skill.
Today’s technical analysis level for EUR/USD 22 July 2011, we recommend to buy positions in EURUSD above 1.4385 for target of 1.4455 and 1.4485 also place protective stop loss below 1.4365.