FX.co ★ EUR/USD Intraday Technical Analysis and Trading Recommendations for March 23, 2012

According to the linear regression channels the chart shows the following:

The EUR/USD pair showed the significant bullish presence during the first few hours of today breaking the upper limit of the identical violet and blue bearish channels at 1.3195.

Price level 1.3195 is also correspond to the intermediate line of the yellow channel which acts as the pair's support level.

The previous facts render price level 1.3195 as an important Intraday support for the pair and a good BUY entry with SL located below 1.3120.

Profits should be taken at 1.3240, 1.3285 and 1.3335.