10.03.201407:43 Forex Analysis & Reviews: Technical analysis of EUR/USD for March 10, 2014

Long-term review

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When the European market opens, some economic news will be released such as French Industrial Production m/m, Italian Industrial Production m/m, Sentix Investor Confidence, Eurogroup Meetings results.Today, the US will not release any economic data, so amid the reports, EUR/USD will have low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3944.

Strong Resistance:1.3935.

Original Resistance: 1.3922.

Inner Sell Area: 1.3909.

Target Inner Area: 1.3876.

Inner Buy Area: 1.3843.

Original Support: 1.3830.

Strong Support: 1.3817.

Breakout SELL Level: 1.3808.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3830 and 1.3922 correspondingly. The rate is accompanied by strong support at 1.3817 and by 1.3935 as the strong resistance level.

If EUR/USD breaks out and closes below the 1.3808 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3944 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the levels of 1.3843 and at 1.3909, a SELL position. In this case both targets should be placed at the level of 1.3876.

Best regards,

Arief Makmur

Official Analyst of InstaForexGroup

InstaForex Group

http://instaforex.eu

For discussion and more analysis go to: blog.mt5.com/arief

Disclaimer:

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