21.02.201210:35 GOLD Intraday Technical analysis

Long-term review

Exchange Rates 21.02.2012 analysis

When the European market opens, some economic news will be released such as German Prelim CPI m/m, Spanish Flash CPI y/y, and Italian 10-y Bond Auction. The US will release the economic data too such as the Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, and Pending Home Sales m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.
Breakout BUY Level: 1.2736.
Strong Resistance:1.2728.
Original Resistance: 1.2716.
Inner Sell Area: 1.2704.
Target Inner Area: 1.2674.
Inner Buy Area: 1.2644.
Original Support: 1.2632.
Strong Support: 1.2620.
Breakout SELL Level: 1.2612.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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