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17.05.2012 02:54 PM
EUR/USD Today's Targets and Technical analysis

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Overview:
Euro is trying to recover despite ongoing crisis in Europe due to Greek and French elections. The resistance for EUR/USD is at 1.2757, if this level is achieved the next resistance will be at 1.2814. Next support level is 1.2650 and 1.2621. My advice is still not to sell, until recovery is achieved.

Recommendations:
If you are in sell-positions, you can close them between the 1.2681 level and 1.2663; the same range is suitable for the short-term buying as well.
If you are in buy-positions, then the suitable level range will be from 1.2757 to 1.2778 the same range is suitable for the near-term selling as well.

Trends:
Near Term: Downward
Short Term: Sideways
Medium Term: Sideways

Warning:
Analysis and technical levels are provided only for the educational and informative purposes. Please check also the fundamental analysis before opening every single position. Keep yourself away from the market, if the market is volatile. Always try to open positions with good price level. Remember Forex is like fishing, not like hunting.

Money Management Warning:
Never puto to risk more than 2 or 3% of your equity in a trade:
For example, 2% of 1,000 USD is 20$ and if your stop is 50 pips, then your lot size will be calculated as 20$/50 = 0.4 of insta lot which means it will be about 40 cents and similarly if your stop level is 100 pips than lot size will be calculated as follow 20$/100 = 0.2 Insta lots it will be about 20 cents.

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