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16.05.2012 10:05 AM
EUR/USD Intraday Technical Levels for May 16, 2012

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TODAY's   TECHNICAL   LEVEL :

Breakout BUY Level : 1.2794.

Strong Resistance : 1.2787.

Original Resistance : 1.2775.

Inner Sell Area : 1.2763.

Target Inner Area : 1.2733.

Inner Buy Area : 1.2703.

Original Support : 1.2691.

Strong Support : 1.2679.

Breakout SELL Level : 1.2671.

 

DESCRIPTION :

Today the EUR/USD pair has support and resistance at 1.2691 and 1.2775 and is accompanied by strong support 1.2679 and resistance 1.2787 level.

If the EUR/USD pair breaks through and closes below a 1.2671 level today, then this will indicate considerable bearish strength, while if the EUR/USD is able manages to break through and close above a 1.2794 level, then this will denote high bullish strength. It is possible to trade otherwise by opening BUY positions at the level of 1.2703 and SELL positions at 1.2763,provided that both targets are located at the level of 1.2733.

 

Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
Yahoo Messenger & Skype : Arief.ifx_jakarta
Gtalk : Arief.ifx.jakarta

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Arief Makmur
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