This is what i had on EUR/USD for 07/05/11

nokia2367

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Next trading opportunity:
current price is at 1.4539 and market is trying to trade higher.
if you are long we have profit targets at 1.4598, 1.4632 and 1.4742, however the 1.4474 is a very strong support for short term and we don't want market trade below it significantly(11 pips).

short side:
if market can not take the previous high we can take a short position with profit target at 1.4526 ,and 1.4474




Please trade on your won risk.
if you have any questions please let me know

As we stated yesterday the 1.4474 level was important and market with broke of that level tried to reach the next targets which were at 1.4422 and 1.4392.

Next trading opportunity:

If we don't enter in the choppy are from 1.4358 to 1.4394 we can still trade higher.
we can take a long position from 1.4422 with stop below 1.4394 our profit target would be 1.4472 or even higher.
for short side:
if get into the choppy area we can drift lower and below 1.4358 level more selling pressure will step in our support/target levels would be 1.4296 to 1.4308
1.4276 is a very important level.

Next trading opportunity:

If market trades above 1.4380 and stays above it then the target is at 1.4422

we have a resistance at 1.4360

on the short side:

we have strong support from 1.4276 to 1.4256

However below 1.4256 market will test the 1.4166 levels

Next Trading opportunity

If we trade above1.4374 and stay above it there is a high probability to trade 1.4422

We have a support from 1.4286 to 1.4296 below 1.4286 sellers will step in and take it to 1.4194 with high probability.



Please trade on your own risk.
if you have any questions please let me know.
thanks
 

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