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07.05.2012 10:35 AM
EUR/USD Intraday Technical Levels for May 07, 2012

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TODAY's   TECHNICAL   LEVEL :

Breakout BUY Level : 1.3023.

Strong Resistance : 1.3016.

Original Resistance : 1.3004.

Inner Sell Area : 1.2992.

Target Inner Area : 1.2961.

Inner Buy Area : 1.2929.

Original Support : 1.2918.

Strong Support : 1.2906.

Breakout SELL Level : 1.2898.

 

DESCRIPTION :

Today the EUR/USD pair has support and resistance at 1.2918 and 1.3004 levels and is accompanied by the strong support (1.2906) and resistance (1.3016).

If the EUR/USD pair breaks through and closes below 1.2898 level today, then this will indicate considerable bearish strength, while if the EUR/USD pair is able to break through and close above 1.3023 level, then this will denote high bullish strength. It is possible to open BUY positions at the level of 1.2929 and SELL positions at the 1.2992 level in case both targets are located at the 1.2961 level.

 

 

Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com

Summary
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Arief Makmur
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