FX.co ★ EUR/USD Technical Analysis. Support And Resistance Levels For April 20 / 2011

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.4433.
Strong Resistance : 1.4425.
Original Resistance : 1.4411.
Inner Sell Area : 1.4397.
Target Inner Area : 1.4363
Inner Buy Area : 1.4329.
Original Support : 1.4315.
Strong Support : 1.4301.
Breakout Sell level : 1.4292.

TODAY OUTLOOK :

After yeterday the strong resistance at the 1.4350 was broken by the pair, the EUR/USD tested the 1.4375 level and 1.4400. The first target resistance can be easily broken by the pair but the second resistance at 1.4400 seems hold the upside movement of the EUR/USD today. If 1.4375 can be broken down by the pair today, the upside movement of the EUR/USD will be held, but if the 3 days high level of this pair can be broken out, today the pair will have a chance to advance the upside movement.

TODAY SUGGESTION :

BUY if the EUR/USD can break out and close above 1.4400, set Take profit at 1.4416 (3 days high)as the first target and 1.4450 as the second target.

SELL if the EUR/USD can break out and close below 1.4375, set Take profit a 1.4350 (Fibonacci Support 23.6%) as the first target and 1.4328 as the second target.