TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3000.
Strong Resistance: 1.2992.
Original Resistance: 1.2980.
Inner Sell Area: 1.2968.
Target Inner Area: 1.2937.
Inner Buy Area: 1.2932.
Original Support: 1.2894.
Strong Support: 1.2881.
Breakout SELL Level: 1.2874.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.2894 and 1.2980. The rate is accompanied by strong support at 1.2881 and by 1.2992 as strong resistance.
If EUR/USD breaks out and closes below 1.2874 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3000 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.2932 and at 1.2968 – a SELL position. In this case both targets should be located at the level of 1.2937.
Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
E-mail: Arief.jakarta@indo.instaforex.com