TODAY TECHNICAL LEVEL :
Breakout Buy level : 1.3879.
Strong Resistance : 1.3871.
Original Resistance : 1.3858.
Inner Sell Area : 1.3844.
Target Inner Area : 1.3812.
Inner Buy Area : 1.3779.
Original Support : 1.3866.
Strong Support : 1.3753.
Breakout Sell level : 1.3744.
TODAY OUTLOOK :
After the London Market opened yesterday, the pair started to melt down and came back to the downtrend channel; but the Q2 lower channel provided a good support for the EUR/USD and in the early morning the pair started to reverse up, break out and close above the downtrend channel, being held by the Resistance 1.3825 level. However, if the pair wants to continuue its upside movement, the EUR/USD must break out and close above 1.3487 for a valid indication of the Bullish Sentiment being back again.However, it looks like the 1.3800 level will be re-tested again by the pair, if it cannot be broken, the upside movement will be in advance, but if can easily be broken out by the pair today, the EUR/USD will test the 3-day Low at the 1.3771 level.
TODAY SUGGESTION :
BUY if this pair can break out and close above the 1.3828 level, set Take profit at 1.3840 as the first target and 1.3850 as the second target.
SELL if this pair can break out and close below the 1.3800 level, set Take profit at 1.3788 as the first target and 1.3775 as the second target.
