Most liquid and most trending currency pair is EURUSD, Euro is also known as anti dollar currency. Today’s trading technical analysis (tips) for EUR/USD 4 July 2011, we recommend, enter long position (buy) in EURUSD above 1.4565 for target of 1.4595 and 1.4635 also place protective stop loss below 1.4545.
Reason to trade long: EURUSD pair has rallied from the 1.4100 level and we have seen the longer term trend has now again resumed. So trading with the trend we are only looking for the buying opportunities as long as the pair remains above the 1.4545 level. This is very good level to enter the long positions as this is supported by the technical indicators. With this our long positions will be triggered near 1.4565 level for the targets as 1.4595 and then 1.4635 zone in intraday trade. Even RSI is now well directed and is showing clear bullish trend picture. Also we advice traders to keep their stop loss with 1:2 risk reward ratio. We can see further strengthening in EURUSD pair.
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