TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.2417.
Strong Resistance: 1.2410.
Original Resistance: 1.2398.
Inner Sell Area: 1.2386.
Target Inner Area: 1.2357.
Inner Buy Area: 1.2328.
Original Support: 1.2316.
Strong Support: 1.2304.
Breakout SELL Level: 1.2297.
DESCRIPTION:
At the moment EUR/USD has support and resistance at 1.2316 and 1.2398 and is accompanied by strong support at 1.2304 and by 1.2410 as strong resistance.
If EUR/USD breaks out and closes below a 1.2297-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2417-level, then this will denote high bullish strength. Alternatively for advance traders, you can trade in a way to open a BUY position at the level of 1.2328 and at 1.2386 – a SELL position, in this case both targets should be located at the level of 1.2357.
Best regards,
