EUR/USD Intraday Technical Levels for August 14, 2012
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.2379.
Strong Resistance: 1.2372.
Original Resistance: 1.2361.
Inner Sell Area: 1.2350.
Target Inner Area: 1.2322.
Inner Buy Area: 1.2294.
Original Support: 1.2283.
Strong Support: 1.2272.
Breakout SELL Level: 1.2264.
Today EUR/USD has support and resistance at 1.2283 and 1.2361 and is accompanied by strong support at 1.2272 and by 1.2372 as strong resistance.
If EUR/USD breaks out and closes below a 1.2264-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2379-level, then this will denote high bullish strength. Alternatively for advance traders, you can trade in a way to open a BUY position at the level of 1.2294 and at 1.2350 – a SELL position, in this case both targets should be located at the level of 1.2322.
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 !