May 21, 2009 04:19

Forex Signal – EUR/USD Up, Up and Away!

By:

5-21-09

5:15a GMT – EUR/USD crashed through resistance yesterday and never looked back, busting upwards almost 150 pips at its peak. With the fresh higher higher and higher low we are again looking at a steady uptrend and buying opportunities. Hourlies are close to overbought territory – which is normal in a strong trend – but we will look for dips to buy as those levels cool off. Nearest support levels are at 1.3720 and 1.3665.

Trading Idea: Looking to buy a bounce off of 1.3720, tight stops, targets at 1.3775 and 1.3830.

(click to enlarge)
eu52109buying

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