FX.co ★ EUR/USD Technical Analysis. Support And Resistance Levels For December 29th, 2010

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.3166.
Strong Resistance : 1.3158.
Original Resistance : 1.3146.
Inner Sell Area : 1.3133.
Target Inner Area : 1.3102.
Inner Buy Area : 1.3070.
Original Support : 1.3058.
Strong Support : 1.3045.
Breakout Sell level : 1.3037.

TODAY OUTLOOK :

The intraday bias of this pair still in the downtrend; at now the EUR/USD is trying to test the 1.3150 level. If the pair manages to easily break out and close today, it will cause this pair to go up to its first target at 1.3175 and the second target at 1.3200; but on the other hand if it comes back to downside again and breaks out and closes below 1.3125, it will make this pair reach its first target at 1.3100 and its second target at 1.3075.

TODAY SUGGESTION :

BUY at 1.3160; set TakeProfit between 10 pips to 20 pips.

SELL at 1.3058; set TakeProfit between 10 pips to 20 pips.