TODAY's TECHNICAL LEVEL :
Breakout BUY Level: 1.3079.
Strong Resistance: 1.3072.
Original Resistance: 1.3059.
Inner Sell Area: 1.3046.
Target Inner Area: 1.3016.
Inner Buy Area: 1.2986.
Original Support: 1.2973.
Strong Support: 1.2960.
Breakout SELL Level: 1.2953.
DESCRIPTION :
Today the EUR/USD has support and resistance at 1.2973 and 1.3059. The rate is accompanied by strong support at 1.2960 and by 1.3072 as strong resistance.
If the EUR/USD breaks out and closes below the 1.2953 level today, it will indicate considerable bearish strength. Meanwhile, if the EUR/USD manages to break out and closes above 1.3079 level, 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 1.2986 and a SELL position at 1.3046. In this case both targets should be located at the level of 1.3016.
Best regards,
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
https://instaforex.com
Email : Arief.jakarta@indo.instaforex.com
Yahoo Messenger & Skype : Arief.ifx_jakarta
blog.mt5.com/arief
https://www.mt5.com/forex_analysis_award/profile/index/arief
Disclaimer :
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.