EUR/USD Technical Analysis. Support And Resistance Levels For January 7th/2011

Breakout Buy level : 1.3066.
Strong Resistance : 1.3058.
Original Resistance : 1.3046.
Inner Sell Area : 1.3034.
Target Inner Area : 1.3302.
Inner Buy Area : 1.3003.
Original Support : 1.2960.
Strong Support : 1.2947.
Breakout Sell level : 1.2940.

The EUR/USD is still in the Bearish situation, as indicated by the daily charts. The pair has been trading below the EMA (100) and the stochastic (8,3,3) and still is in the downtrend. However, today the EUR/USD opened in a ranging situation between 1.2975 and 1.3025. However please pay attention to US Non Farm Payrolls Data Release.

BUY if this pair can break out and close above the 1.3025 level and set 1.3050 for the target. 1 and 1.3075 for the target. 2.

SELL if this pair can breakout and close bellow the 1.2975 level and set 1.2950 for the target. 1 and 1.2925 for the target. 2