Intraday trading analysis (tips) for EUR/USD 24 March 2011, we recommend, Enter long (buy) EUR/USD) above 1.4125 for target of 1.4165 and 1.4195 also place protective stop loss below 1.4105.
Why to trade long: The pair finally trading strong and is showing 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 1.4055 level on 4 Hour chart.