AUDUSD - Opportunity

I believe that the AUDUSD will continue it's uptrend, with support coming from the lower channel trend line.

AUDUSD

EURUSD - Intraday Analysis April 11, 2011

EURUSD Intraday Analysis for April 11, 2011

Trading plan - EURUSD April 11

A trend line break to the upside during last Friday's session puts the intraday bias on EURUSD bullish.  The blue pivot point on the chart marks the line for my bias -

• ABOVE $1.4400
• I am looking for viable long entries anywhere above this point.
• Three likely targets for the day
• First: $1.4515
• Second: $1.4560
• Third: $1.4635
• BELOW $1.4400
• If price were to move below the pivot point, I will look for short entries
• Two targets in mind
• First: $1.4345
• Second: $1.4300
• Stops and risk
• Can be placed on the other side of the pivot point of the direction you're trading
• Risk: don't take a long entry if the ratio for a target is less than 1:1
• Specific Entry
• This is my bias for the day, specific entry point may vary.  I usually trade if a breakout may be underway or the price has retraced and a reversal candle pattern has formed (hanging man, etc) on the M15 chart OR the currency finds a new line of support above the pivot point.