Euro Cross Pick 06.09.09

[B]My picks:[/B] Long EUR/USD
[B]Expertise:[/B] Fundamentals and Technicals
[B]Average Time Frame of Trades:[/B] 2 - 10 Days

The EUR/USD pared losses during the overnight to push back above the 1.39, and the recent rally in the pair looks to be well support by the 20-Day moving average. As the economic calendar for the Euro-Zone remains fairly light for the remainder of the week, the rise is market sentiment may continue to drive the single-currency higher, and we may see the pair push higher to test the trend highs. As a result, I entered a long entry at market (1.3989), and placed my target at 1.4268, the 6/5 high, with the stop at 1.3909, the 20-Day SMA.