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Forex: Day Trading Analysis on EUR/USD: Sell EUR/USD Below 1.3135

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Our intraday trading analysis on EUR/USD for 23 Dec 2010, we recommend Short (Sell) EUR/USD Below 1.3135 for target of 1.3085 and 1.3055 keep stoploss above 1.3155.

Why to go Short: This pair has been trending downward. So we expect the pair should further weaken to test its new support level (1.3055) on intraday basis following its current trend. Hence trend should be bearish for today’s session (23 December 2010).

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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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