Forex: Intraday trading analysis (tips) for EUR/USD 5 April 2011, we recommend, Enter long (Buy) EUR/USD above 1.4155 for target of 1.4195 and 1.4235 also place protective stop loss below 1.4135.
Reason to go Long: The EUR/USD pair finally trading strong and is showing strong uptrend here. Also EURO has strongly accumulated upward momentum and is firmly trading above its resistance level targeting next resistance area (may be forming triple top this time). RSI is how ever loosing momentum and suggest for caution on 4 hour chart. So we can see further strengthening in this pair, the up-trend must continue and trading in the direction of the trend we recommend to trade long (buy) on this pair. I will be looking for buying opportunity as long as the pair remains above 1.4115 level on 4 Hour chart.