FX.co ★ EUR/USD Intraday Technical Level for January 5, 2011

TODAY's TECHNICAL LEVELS:

Breakout BUY Level : 1.2996.

Strong Resistance : 1.2988.

Original Resistance : 1.2976.

Inner Sell Area : 1.2964.

Target Inner Area : 1.2933.

Inner Buy Area : 1.2902.

Original Support : 1.2890.

Strong Support : 1.2878.

Breakout SELL Level : 1.2869.

DESCRIPTION :

Today EUR/USD has support and resistance at 1.2890 and 1.2976 is accompanied by a strong support at 1.2878 and 1.2988 as a strong resistance.
If today EUR/USD manages to break out and close below the 1.2869 level then this will indicate considerable bearish strength, while if EUR/USD today breaks out and closes above the 1.2996 level, then this can indicate considerable bullish strength. Alternatively you can trade in a way to open BUY position at the level of 1.2902 and at 1.2964 – a SELL position in which case both targets will be placed at the 1.2933 level.