FX.co ★ EUR/USD Intraday Technical Levels for August 16, 2012

Today's Technical Levels:
Breakout BUY Level: 1.2347.
Strong Resistance: 1.2339.
Original Resistance: 1.2328.
Inner Sell Area: 1.2316.
Target Inner Area: 1.2287.
Inner Buy Area: 1.2257.
Original Support: 1.2246.
Strong Support: 1.2234.
Breakout SELL Level: 1.2226.

Description:
Today EUR/USD has support and resistance at 1.2246 and 1.2328 and is accompanied by strong support at 1.2234 and by 1.2339 as strong resistance.
If EUR/USD breaks out and closes below 1.2226 level today, this will indicate a considerable bearish strength, while if EUR/USD manages to break out and close above 1.2347 level, this will denote a high bullish strength. Alternatively, for advance traders, you can trade in a way to open BUY position at the level of 1.2257 and SELL position at 1.2316, in this case both targets should be located at the level of 1.2287.

Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
https://instaforex.com
Email : Arief.ifx.jakarta@gmail.com