• Trading Account
  • Downloads
  • Nifty Options OI
    • Nifty Max Pain Chart
    • Nifty Option Change in OI Chart
    • Nifty Put Call Ratio
    • Nifty Option Total Change in OI
    • Nifty Trend Finder
  • BankNifty Option OI
  • About Us
  • Learn Technical Analysis
    • Advance Option Trading Course

OurNifty.com

A Indian Stock Market Blog

  • Forex
  • Gold
  • Intraday Stocks
  • Midcap Stocks
  • Multibagger
  • Nifty
  • Nifty Option
  • NSE
  • Amibroker

Forex: EUR/USD Intraday Trading Analysis for 16 June 2011: Sell EURUSD below 1.4205

By Bhaveek Patel Leave a Comment

Today’s trading technical analysis (tips) for EUR/USD 16 June 2011, we recommend, enter short position (Sell) in EURUSD below 1.4205 for target of 1.4165 and 1.4135 also place protective stop loss above 1.4225.

Reason to trade short: Yesterday EURUSD pair has lost about 1.8% falling from 1.4480 to 1.4155 levels. We see that their exists some support near 1.42 level as it is 23.6% Fibonacci level. From the current levels we are sure that the pair has gained enough momentum and will continue to fall. Again targeting the 1.3945 zone in short term. So for now we will be only looking for selling opportunity in this pair for our initial target of 1.3945 level. For intraday traders we will suggest to enter short positions only. If we look at technical indicators, RSI is now well directed and is showing bearish trend and suggest for entering short positions only as seen on 4 hour chart. Also we advice traders to keep their stop loss with 1:2 risk reward ratio. We can see further weakening in EURUSD pair.

Share
Tweet
Pin
0 Shares

You Should Read This:

  1. Forex: EUR/USD Trading Analysis for 1 June 2011: Buy EURUSD above 1.4445 Today’s trading technical analysis (tips) for EUR/USD 1 June 2011, we recommend, Accumulate EURO i.e enter long position (Sell) in EURUSD above 1.4445 for target of 1.4495 and 1.4525 also place protective stop loss below...
  2. Forex: EUR/USD Trading Analysis for 16 May 2011: Sell EURUSD below 1.4155 Today’s trading technical analysis (tips) for EUR/USD 16 May 2011, we recommend, Enter short position only in (Sell) EUR/USD above 1.4155 for target of 1.4055 and 1.4015 also place protective stop loss above 1.4175. Reason...
  3. Forex: EUR/USD Trading Analysis for 23 May 2011: Sell EURUSD below 1.4115 Today’s trading technical analysis (tips) for EUR/USD 23 May 2011, we recommend, Enter short position only in (Sell) EUR/USD below 1.4115 for target of 1.4055 and 1.4015 also place protective stop loss above 1.4135. Reason...
  4. Forex: EUR/USD Trading Analysis for 30 June 2011: buy EURUSD above 1.4515 EURUSD is today most traded pair on the Forex, also making it most liquid pair. EURO is having high interest rate than USD so many traders only look for buys in EURO. We provide our...
  5. Forex: EURUSD Technical Analysis on 29 July 2011, Sell EURUSD below 1.4295 Today’s trading technical analysis for EUR/USD 29 July 2011, our advice to trade short (sell) in EURUSD below 1.4295 level for target of 1.4255 and then 1.4215 levels also place protective stop loss above 1.4315...

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.

Comments

  1. Jessica R says

    Do you expect more selling in euro?
    I am short from 1.4375 levels, my target is 1.4075 a 300 pips profit.

    Reply
    • Bhaveek Patel says

      Yes Jessica we are expecting more selling once euro trades below the 23.6% fibonacci level (1.42 level). Your trade setup is very correct and you will surely make those 300pips profit from this trade, also we will advice you to keep the trailing stop loss instead of manual stop. Thanks for discussing your trade.

      Regards,
      OurNifty.com Team

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post: Forex: AUD/USD Trading Analysis for 16 June 2011: Sell AUDUSD below 1.0565
Next Post: Reserve Bank of India (RBI) hiked repo rate and reverse repo rate by 25bps

Advance Options Trading Course

options trading course

Lowest Brokerage Trading A/c

Lowest brokerage trading account opening in India

Learn Technical Analysis

technical analysis course

Recent Articles

  • ASX Penny Stocks List for 2025
  • 7 Ways to Boost Your Revenue
  • NYSE Penny Stocks List for 2025
  • Short On Cash? Here’s How You Can Manage Your Priority Spends
  • FREE Webinar on Option Chain Analysis
  • LSE Penny stocks list for trading in 2025 Should you buy?
  • BSE Penny Stocks List 2025

Popular Categories

Amibroker Finance Forex Gold Intraday Stocks IPO Midcap Stocks Multibagger NEWS Nifty Nifty Option NSE Results Short Term Stocks Technical Analysis

About Us | Contact Us | Privacy Policy | Disclaimer


Copyright © 2009 - 2025 OurNifty.com Trading ideas published here cannot be reproduced without permission from the author.
OurNifty is Powered by Wordpress and hosted on Digital Ocean