Tuesday, January 6, 2009

EURUSD (1.3634)

EURUSD seemed to have settled into its downward trend and is looking to break below 1.3600 level. Break of 1.3600 will take EURUSD towards 1.3100 level.

Traders will look to sell EURUSD around 1.3710 level for initial target at 1.3510 level which can be extended to 1.3350 level.

The position can be averaged out if EURUSD rise to 1.3830 level.


Recommended Trade Levels

Trade 1: Sell EURUSD @ 1.3710
Trade 2: Sell EURUSD @ 1.3830
Stop: 1.3870
Profit Target 1: 1.3510
Profit Target 2: 1.3350

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