TODAY’S TECHNICAL LEVELS:
Breakout BUY Level: 1.3294.
Strong Resistance: 1.3285.
Original Resistance: 1.3273.
Inner Sell Area: 1.3260.
Target Inner Area: 1.3229.
Inner Buy Area: 1.3197.
Original Support: 1.3185.
Strong Support: 1.3172.
Breakout SELL Level: 1.3164.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3185 and 1.3273. The rate is accompanied by strong support at 1.3172 and by 1.3285 as strong resistance.
If EUR/USD breaks out and closes below a 1.3164 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3294 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3197 and at 1.3260, a SELL position. In this case both targets should be located at the level of 1.3229.
P.S. Beware of thin and not liquid markets during the New Year’s Eve.
Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
https://instaforex.com
E-mail: Arief.jakarta@indo.instaforex.com
