DislikedHi Hussain, I'm new like you as well (on the forums anyways!)
I have been trading this pair for the last few years so I pretty much understand the market.
Basically, don't be fooled by the market going up. It can go higher, but it won't break certain levels. I believe you can't have small stop losses because you will always get stopped out, like our good friend ragnakore has discovered in the last few days.
Basically, my position in the market is short.
I have sold at 1.0385 and I will take profit at 1.0350. My stop loss is at 1.0666
My...Ignored
i tend to agree wid u... the sentiment in the market is +ve ... however its gonna get diff to brk certain resistance levels here on. I personally am thinking of placing short trades arnd the 1.05 range and get out arnd 1.043.
Ur absolutely ryt abt mkts changing direction pretty quickly... i'm eagerly waiting for tht u-turn http://www.forexfactory.com/images/icons/icon12.gif