EUR/USD Technical Analysis. Support And Resistance Levels For February 2, 2011

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.3896.
Strong Resistance : 1.3888.
Original Resistance : 1.3875.
Inner Sell Area : 1.3862.
Target Inner Area : 1.3829.
Inner Buy Area : 1.3796.
Original Support : 1.3783.
Strong Support : 1.3770.
Breakout Sell level : 1.3762.

TODAY OUTLOOK :

The EUR/USD is testing the 1.3850 level; if this pair can close above this level it is expected to go up; on the other hand if the EUR/USD reverses down, this pair will test the 1.3825 level; if this pair can easily break out and close below this level, the EUR/USD will test its next level at 1.3800.

TODAY SUGGESTION :

BUY if this pair can close above 1.3850; set Take profit at 1.3875 as the first target and 1.3900 as the second target .

SELL if this pair can close below 1.3825; set Take profit at 1.3800 as the first target and 1.3775 as the second target.