06.04.201109:22 Forex Analysis & Reviews: EUR/USD Technical Analysis. Support And Resistance Levels For April 06 / 2011

TODAY  TECHNICAL  LEVEL :

Breakout Buy level : 1.4302.
Strong Resistance : 1.4294.
Original Resistance : 1.4280.
Inner Sell Area : 1.4266.
Target Inner Area : 1.4233.
Inner Buy Area : 1.4199.
Original Support : 1.4186.
Strong Support : 1.4172.
Breakout Sell level : 1.4164.

TODAY  OUTLOOK :

Today the EUR/USD tested the 3-days high at the 1.4270 level and it looks like this level has provided a strong resistance for this pair for a few days. Today the pair will face two options, either it will test the 3-days high at 1.4270 or it will test the 1.4250 level as a support level. However, do not expect any significant movement because all market paricipant are still waiting for the ECB press release about their intrest rate tomorow (Thursday).

TODAY  SUGGESTION :

BUY   if the EUR/USD can break out and close above  1.4275;  set  Take profit at 1.4300 as the first target and 1.4315 as the second target.

SELL if the EUR/USD can break out and close below  1.4250;  set  Take profit at 1.4235 as the first target and 1.4221 as the second target.