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EUR/USD to Target 1.41 Level Next Week 7 March 2011

By Bhaveek Patel Leave a Comment

We have seen 350 pips rally in EUR/USD last week and it was not that strong until the breakout above the 1.387 level, after the NFP data release on 4 March 2011. So we are expecting this rally to continue upto its next resistance of 1.4105. So we will be looking for buying opportunities as long as the pair holds above 1.3865 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 1.3985 for weekly target of 1.4055 and 1.4105 in extension. Also place protective stop loss near 1.3815 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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