Sunday, May 9, 2010

EURUSD-WEEKEND GAP

The EURUSD broke a major intra-day resistant with a weekend gap above 1.2805

Its obviously in a BULLISH MOOD and I will prefer a retracement to 1.2819 region to plan a buy with a stoploss at a close below 1.2678. 80-100 pips from entry should be a good target of takeprofit.

Takecare of your risk level, I personally dont like to trade after a gap, but if you must trade reduce your risk level below the normal.

Good luck.

James.

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