Tuesday, May 22, 2012

EUR/USD Intraday Technical Levels for May 22, 2012

TODAY's TECHNICAL LEVELS:

Breakout BUY Level   : 1.2874.
Strong Resistance     : 1.2866.

Original Resistance   : 1.2854.

Inner Sell Area         : 1.2842.

Target Inner Area    : 1.2811.

Inner Buy Area        : 1.2780.

Original Support      : 1.2768.

Strong Support        : 1.2756.

Breakout SELL Level : 1.2748.



DESCRIPTION :
Today EUR/USD has support and resistance at 1.2768 and 1.2854 and is accompanied by strong support at 1.2756 and by 1.2866 as strong resistance.

If EUR/USD breaks out and closes below a 1.2748-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2874-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2780, and at 1.2842– a SELL position, in this case both targets should be located at the level of 1.2811.

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