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FX.co ★ EUR/USD Technical Analysis. Support And Resistance Levels For October 12, 2010

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Forex Analysis:::2010-10-12T08:44:08

EUR/USD Technical Analysis. Support And Resistance Levels For October 12, 2010

EUR/USD Technical Analysis. Support And Resistance Levels For October 12, 2010

Intraday trading level area :

Breakout Buy level :1.3932.
Strong Resistance :1.3924.
Original Resistance :1.3911.
Inner Sell Area :1.3898.
Target Inner Area :1.3865.
Inner Buy Area :1.3832.
Original Support : 1.3819.
Strong Support : 1.3806.
Breakout Sell level : 1.3797.

Our forecast for yesterday confirmed, the EUR/USD currency pair closed below the sell breakout level of 1.3928 and it seemed that the pair would continue to move down to the level of 1.3879, since on a daily timeframe it looked like this currency pair retraced downwards after it was moving up for a long time. Today, if the pair goes up to Fibonacci resistance level 23.6% at 1.3884 or to Fibonacci Resistance level 38.2% at 1.3908, then it might reverse and go down to 1.3825 abd further to 1.3760.

Analyst InstaForex
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