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EURUSD Technical Analysis on 22 July 2011, Buy EURUSD above 1.4385

By Bhaveek Patel Leave a Comment

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.

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Category: Forex Tags: Currency/ 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.

Comments

  1. Gaurav says

    Excellent call, thanks for the sharing this wonderful info. I am already long on eurusd just after the bailout declaration by ECB for Greece.

    Reply
    • Bhaveek Patel says

      Gaurav, you are on the right side of trade and it is sure that you will make profits. but keep your stop loss strict and keep trailing it for locking profits. 🙂
      Thanks

      Reply

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