Intraday trading analysis (tips) for EUR/USD 18 March 2011, we recommend, Enter long (buy) EUR/USD) above 1.4075 for target of 1.4105 and 1.4135 also place protective stop loss below 1.4045.
Reason to go Long: The pair finally trading strong and is showing one of the strong trending markets. Also EURO has strongly accumulated upward momentum and is firmly trading above its resistance level targeting next resistance. RSI confirms the up move and is in favor of the trade 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 1.3975 level.