TODAY TECHNCIAL LEVEL :
Breakout Buy level : 1.4192.
Strong Resistance : 1.4184.
Original Resistance : 1.4170.
Inner Sell Area : 1.4156.
Target Inner Area : 1.4123.
Inner Buy Area : 1.4090.
Original Support : 1.4076.
Strong Support : 1.4062.
Breakout Sell level : 1.4054.
TODAY OUTLOOK :
The EUR/USD is now trading in a sideways situation between the 3-days High and 3-days Low (1.4043 - 1.4145); this situation is caused by the controversy of the technical view and the fundamental view. From technical point of view: in daily charts the pair traded above the 100 Day periode Exponential Moving Avarage (Red: it means Bullish situation) and the pair is still making a higher valley (Higher Support). BUT from fundamental point of view, Greece and Portugal situation is still getting worse and the Irish Bailout does not seem to be enough to cover their bad situation; all this situation makes market particpants confused and, as a result, for a few days the buyers and the sellers are in equal situation, which makes the price fluctuate and trade between the 1.4043 and the 1.4145 levels.
TODAY SUGGESTION :
BUY if the EUR/USD break out and close above 1.4145, set Take profit at 1.4156 as the first target and 1.4163 as the second target.
SELL if the EUR/USD break out and close below 1.4112, set Take profit at 1.4100 as the first target and 1.4086 as the second target.
