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FX.co ★ EUR/USD Technical Analysis. Support And Resistance Levels For January 05th/2011.

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Forex Analysis:::2011-01-05T08:48:37

EUR/USD Technical Analysis. Support And Resistance Levels For January 05th/2011.

EUR/USD Technical Analysis. Support And Resistance Levels For January 05th/2011.

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.3362.
Strong Resistance : 1.3354.
Original Resistance : 1.3341.
Inner Sell Area : 1.3328.
Target Inner Area : 1.3297.
Inner Buy Area : 1.3266.
Original Support : 1.3253.
Strong Support : 1.3240.
Breakout Sell level : 1.3232.

TODAY OUTLOOK :

Today in the early morning the EUR/USD was trading in a ranging situation between 1.3300 and 1.3325, but suddenly after the Asian Market opening this pair broke out and closed below 1.3300 to hit its first target at 1.3275. Now this pair will try to break out and close below the 1.3275 level to reach its secondary target at 1.3250. If this pair fails to break the 1.3275 level it will probably re-test the 1.3300 level.

TODAY SUGGESTION :

BUY if this pair can break out and close above 1.3325; set for the first TakeProfit at 1.3350 and the second one at 1.3375.

SELL if this pair can break out the 1.3300 level; set the first target at 1.3275 and the second target at 1.3250.
,

Analyst InstaForex
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