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

Long-term review

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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.

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