EUR/USD Signal 26-07-2011
Daily Outlook: We took a long on the sustained break of the falling trend resistance line of yesterday’s chart (we posted it in the comments of Friday’s signal) at 4425 and the trade is currently about 60 pips in the profit. We have moved the SL to break even, but for those still look to enter the markets we see further upside in this pair:
For those still looking to enter we would treat any dip as a potential opportunity to get long. On today’s chart (above) we are showing one possible scenario with a dip to 1.4430.
Trading Idea: We are currently long from 1.4425 with targets at 1.4445 (hit), 1.4475 (hit), 1.4500 and 1.4530. For those still looking to enter our preferred strategy is to wait for longs, either on dips or on breaks of future 1h resistance lines. One area to watch for dips is 1.4430 on CP confirmation with targets at 4450, 4475, 4500 and 4530 for 100 pips potential.
