EURUSD has moved back nicely into its dowward trend and this trend seems to extend well below 1.2400 level. RSI in daily charts is also above 43 and have very much space for EURUSD to move below 1.2400 level.
Currently a good selling can be seen at 1.2685 for intial target at 1.2560 level which most traders will look to extend to 1.2400 level.
In case EURUSD rise to 1.2800 level, the second sell at 1.2800 to average both positions will be a very good opportunity.
Recommended Trade Levels
Trade 1: Sell EURUSD @ 1.2685
Trade 2: Sell EURUSD @ 1.2800
Profit Target 1: 1.2560
Profit Target 2: 1.2400
Tuesday, December 2, 2008
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