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Forex Intraday Trading Analysis on EUR/USD: Sell EUR/USD Below 1.3295

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Our intraday trading analysis on EUR/USD for 17 Dec 2010, we recommend Short (Sell) EUR/USD Below 1.3295 for target of 1.3235 and 1.3195 keep stoploss above 1.3315.

Why to go Short: This pair has been trading with huge volatility for last couple of days, but now we can see it again trending downward.So we expect the pair should further weaken to test 1.3225 level on intraday basis following its current trend. we believe that it can approach its support level (1.3235). Hence trend should be bearish for today (17 December 2010).

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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.

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