DESCRIPTION:
Today, EUR/USD has support and resistance at 1.3797 and 1.3889. The rate is accompanied by the strong support at 1.3784 and by 1.3902 as the strong resistance.
If EUR/USD breaks out and closes below the 1.3775 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3911 level, then it will reveal high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3810 and a SELL position at 1.3889. In this case, both targets should be placed at the level of 1.3843. Best regards, Arief Makmur Official Analyst of InstaForexGroup http://instaforex.com email: [email protected] For more analysis go to: blog.mt5.com/arief My Profile: http://www.mt5.com/forex_analysis_award/profile/index/arief

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.