FX.co ★ EUR/USD Intraday Technical Analysis September 15, 2011

Further advance in profits took place in our suggested LONG position on EUR/USD.

The weekly candlestick is bullish till now as a reaction to the existing 61.8% Fibonacci level.

New bullish daily candlestick is being formed now.

The next resistance for the pair is 1.3970 which acts as a strong resistance.

Profit taking should be done every 75 pips as we suggested.

SL should be advanced to be daily closure below 1.3500.