Tuesday, December 21, 2010

EURUSD setting up for dip towards 1.3100


EURUSD seems to set itself up for a nice downward move but before doing so, it is taking some gradual retrace and currently a good solid selling level can be seen just around 1.3260 level. From that 1.3260 level EURUSD will look break below 1.3100 level and most traders will target something around that level.

On the upper side, break above 1.3260 level will take EURUSD towards 1.3340 and once EURUSD manages to break that level, the reversal entry indication is there. RSI is not on much lower side so it don’t seems to play much part in the movement. 


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