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FX.co ★ EUR/USD Technical Analysis. Support And Resistance Levels For December 20, 2010

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Forex Analysis:::2010-12-20T08:04:03

EUR/USD Technical Analysis. Support And Resistance Levels For December 20, 2010

EUR/USD Technical Analysis. Support And Resistance Levels For December 20, 2010

TODAY TECHNICAL LEVEL :

Breakout Buy level: 1.3193.
Strong Resistance: 1.3185.
Original Resistance: 1.3173.
Inner Sell Area: 1.3160.
Target Inner Area: 1.3128.
Inner Buy Area: 1.3097.
Original Support: 1.3085.
Strong Support: 1.3072.
Breakout Sell level: 1.3064

TODAY OUTLOOK :

Today this pair is traded in a range between 1.3125 and 1.3175. The pair will be traded in a downtrend situation, but it seems that today this pair will try to re-test the level of 1.3200, especially if the EUR/USD can break out and close above the 1.3175. On the other hand, if this pair breaks through and closes below the 1.3125 level, then the pair will probably move down to the mark of 1.3100. In case the downtrend momentum is strong enough, then the pair will probably reach the 1.2975 level.

TODAY SUGGESTION :

BUY at 1.3216. Take-profit is set between 10 pips to 20 pips.

SELL at 1.3114. Take-profit is set between 10 pips to 20 pips.

Analyst InstaForex
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