This is how we trade now:


Trading strategy: Long

Open: 1.1530

Target: 1.1750

Stop-loss: 1.1430

Recommended size: 1.50 mini lots per $10,000 in your account

Short analysis: EUR/USD could be gearing up for another assault on the daily cloud, which now spans 1.1546-75, as the long tail on Tuesday's candlestick line hints at a rejection of the downside. The fact that the market found support ahead of the 1.1422 Fibo level, a 76.4% retrace of the 1.1301 to 1.1815 (August to September) rise, adds to the odds of a full blown recovery. We remain long.

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