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EUR/USD to Continue Uptrend Targeting 1.38 Next Week 24 Jan 2011

By Bhaveek Patel Leave a Comment

We saw more than 600pips rally in EUR/USD last week and it was quite strong after the NFP data release. So we are expecting this rally to continue upto its next resistance 1.375. So we will be looking for buying opportunities as long as the pair holds above 1.3515 level. Also we may witness high volatility in other cross pairs.

As per our analysis we recommend you to place long orders in EUR/USD near 1.358 for weekly target of 1.375 and 1.387 in extension. Also place protective stop loss near 1.3510 level.

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Category: Forex Tags: 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.

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