EUR/USD Intraday Technical Levels for July 17, 2012
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.2326.
Strong Resistance: 1.2319.
Original Resistance: 1.2307.
Inner Sell Area: 1.2295.
Target Inner Area: 1.2266.
Inner Buy Area: 1.2237.
Original Support: 1.2225.
Strong Support: 1.2213.
Breakout SELL Level: 1.2206.
Today EUR/USD has support and resistance at 1.2225 and 1.2307 and is accompanied by strong support at 1.2213 and by 1.2319 as strong resistance.
If EUR/USD breaks out and closes below a 1.2206-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2326-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2237, and at 1.2295 – a SELL position, in this case both targets should be located at the level of 1.2266.
Performed by Ариф Макмур, Analytical expert
InstaForex Companies Group © 2007-2011
Types of Analysis: Technical analysis
Experience: 8 years
Analytical Credo: If not broke; don't fix it !