FX.co ★ EUR/USD Intraday Technical Levels for October 18, 2012

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3173.

Strong Resistance: 1.3164.

Original Resistance: 1.3154.

Inner Sell Area: 1.3141.

Target Inner Area: 1.3109.

Inner Buy Area: 1.3078.

Original Support: 1.3066.

Strong Support: 1.3053.

Breakout SELL Level: 1.3045.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3066 and 1.3154. The pair is accompanied by strong support at 1.3053 and by 1.3164 as strong resistance.
If EUR/USD breaks out and closes below 1.3045 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and close above 1.3173 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3078 and at 1.3141 a SELL position. In this case both targets should be located at the level of 1.3109.

Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
https://instaforex.com
E-mail: Arief.jakarta@indo.instaforex.com