FX.co ★ EUR/USD Intraday Technical Levels for July 19, 2012

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.2337.

Strong Resistance: 1.2330.

Original Resistance: 1.2318.

Inner Sell Area: 1.2306.

Target Inner Area: 1.2277.

Inner Buy Area: 1.2248.

Original Support: 1.2236.

Strong Support: 1.2224.

Breakout SELL Level: 1.2217.

DESCRITPION:

Today EUR/USD has support and resistance at 1.2236 and 1.2318 and is accompanied by strong support at 1.2224 and by 1.2330 as strong resistance.

If EUR/USD breaks out and closes below a 1.2217-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2337-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2248, and at 1.2306 – a SELL position, in this case both targets should be located at the level of 1.2277.

Best regards,