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EURUSD retracement towards 1.3250 level
Fri, 23 Mar 2007 19:11:43 GMT
by Muhammad Zeeshan Ali
EURUSD: (1.3288)
EURUSD is taking some due retrace at the moment and is currently looking to target 1.3250 level and from here it might make another attempt towards 1.3400 level.
Most Traders will look to buy EURUSD between 1.3250 and 1.3200 levels for a nice move above 1.3350 level. RSI was a bit on the higher side but the recent dip by EURUSD has lowered the RSI considerably and now it has more than enough space to make another move above 1.3300 level.
Trade:
Buy EURUSD @ 1.3254 for Profit Level @ 1.3314 and Stop Loss @ 1.3224
Target is at 1.3362
You can trade from Sunday 17:00 to Friday 17:00 New York local time. Virtual trading is open at all times. Please visit http://www.timeanddate.com/worldclock/city.html?n=179 to check New York local time. The following approximate market schedule is based on New York local time: Japan markets open at 19:00 followed by Singapore and Hong Kong that open at 21:00. European markets open in Frankfurt at 2:00, while London opens an hour later. New York markets open at 8:00 (NYSE opens at 9:00). European markets close at 12:00 and Australian markets start again at 18:00.
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