3/7/10

EURUSD looking to resume trend



EURUSD is currently being traded in a sideways range and it was also due to the reason that EURUSD had a very low RSI value. Now it might once again look to set itself up for a dip towards 1.3500 level. Currently a good resistance can be seen just around 1.3655 level and aggressive traders might to look to sell EURUSD around that level. If EURUSD breaks above 1.3655 level, then the next good resistance can be seen just around 1.3785 level and long term traders will surely look to focus that level. Intra-day traders might look to sell EURUSD around 1.3655 with decent stop and look for EURUSD to make an early dip.

TRADE:

Sell EURUSD @ 1.3655 for Profit Level @ 1.3530 with Stop @ 1.3700



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