12.05.201110:00 Forex Analysis & Reviews: EUR/USD Intraday Technical Support and Resistance Level For May 12nd / 2011

Long-term review

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TODAY TECHNICAL LEVEL :

Breakout BUY Level : 1.4270.
Strong Resistance : 1.4262.
Original Resistance : 1.4248.
Inner Sell Area : 1.4234.
Target Inner Area : 1.4201.
Inner Buy Area : 1.4167.
Original Support : 1.4154.
Strong Support : 1.4140.
Breakout SELL Level : 1.4132.

SHORT DESCRIPTION :

Today the EUR/USD is to find Support and Resistance between 1.4154 and 1.4248 and it has a strong Support at 1.4140 and a strong Resistance at 1.4262; if today the EUR/USD can break out and close below 1.4132, it will be a sign for Short trading for today; on the other hand, if the pair can break out and close above 1.4270, it will be the sign for LONG trading for today. Another option for the advance trader can be trading between the Inner Buy Level at the 1.4167 for LONG trading and the Inner Sell Level at the 1.4234 for the SHORT trading, and all of them with the target at the 1.4201 level.

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