Intraday trading analysis (tips) for EUR/USD 21 April 2011, we recommend, Enter long position in (Buy) EUR/USD above 1.4585 for target of 1.4625 and 1.4655 also place protective stop loss below 1.4565.
Reason to trade long: The pair has broke above the 1.4555 level and is strongly heeding towards 1.46 level. Giving solid trading opportunity in this strong uptrend. Also EURO has strongly accumulated upward momentum due to hike in interest rate by ECB (European Central Bank) and is firmly trading above its intermediate resistance level targeting the next resistance zone. RSI is gaining momentum and suggest for strong trend 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 1.4555 level on 4 Hour chart.
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