23.03.201111:34 Forex Analysis & Reviews: EUR/USD Technical Analysis. Support And Resistance Levels For March 23/2011

TODAY  TECHNICAL  LEVEL :

Breakout Buy level : 1.4237.
Strong Resistance : 1.4229.
Original Resistance : 1.4215.
Inner Sell Area : 1.4201.
Target Inner Area : 1.4168.
Inner Buy Area : 1.4135.
Original Support : 1.4121.
Strong Support : 1.4107.
Breakout Sell level : 1.4099.

TODAY  OUTLOOK :

Yesterday we predicted that the pair would test the 1.4200 level (remaining a support level), which happened after the US Market opened. This is indicated by the MACD Divergence we found yesterday. Today we can see a convergence of the MACD in the early morning; we predict  a small upside movement and the EUR/USD will test the 1.4217 level. If this level is broken out, this pair will be in a Bullish movement; on the other hand, if the pair can break out 1.4150, the Bearish movement will be advance for this pair today.

TODAY  SUGGESTION :

BUY   if this pair can break out and close above the 1.4217 level, set Take profit at 1.4225 as the first target and 1.4247 (the 3-days high) as the second target.

SELL if this pair can break out and close below the 1.4150 level, set Take profit at 1.4138 (the 3-days low) as the first target and 1.4125 as the second target.