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FX.co ★ EUR/USD Technical Analysis. Support And Resistance Levels For March 29/2011

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Forex Analysis:::2011-03-29T08:13:19

EUR/USD Technical Analysis. Support And Resistance Levels For March 29/2011

EUR/USD Technical Analysis. Support And Resistance Levels For March 29/2011

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.4139.
Strong Resistance : 1.4131.
Original Resistance : 1.4117.
Inner Sell Area : 1.4103.
Target Inner Area : 1.4070.
Inner Buy Area : 1.4037.
Original Support : 1.4023.
Strong Support : 1.4009.
Breakout Sell level : 1.4001

TODAY OUTLOOK :

It looks like today the EUR/USD will test the 1.4100 level; if it can provide as a strong resistance, in intraday charts (m30) the pair will form a "Double Top". This situation will hold the upside movement for the pair today and it will be going down again; the 3-days low at 1.4021 is likely to be tested .

TODAY SUGGESTION :

BUY if the EUR/USD can break out and close above 1.4100, set Take profit at 1.4115 as the first target and at 1.4125 as the second target.

SELL if the EUR/USD can break out and close below 1.4059, set Take profit at 1.4050 as the first target and at 1.4025 as the second target.

Analyst InstaForex
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