Tuesday, 31 January 2012

Forex Trading Tip on EurUsd

Analysis on EurUsd Currency Pair :
EurUsd has been in uptrend movement since 19 Jan 2012 after broken above upper channel line of a down channel that started 31 Oct 2011.(Refer to Daily Chart attached)

We are looking to take a small profit of 20 pips out from forex market on daily basis.The stop loss for the trade is 20 pips too. Risk reward ratio is 1:1.

By looking at M15 chart , we look to Buy at 1.3150 if price retrace below this level. (See attached chart)

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