23.10.201211:37 Forex Analysis & Reviews: EUR/USD Intraday Technical Levels for October 23, 2012

Long-term review

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TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3133.

Strong Resistance: 1.3126.

Original Resistance: 1.3113.

Inner Sell Area: 1.3100.

Target Inner Area: 1.3069.

Inner Buy Area: 1.3038.

Original Support: 1.3025.

Strong Support: 1.3012.

Breakout SELL Level: 1.3004.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3025 and 1.3113. The rate is accompanied by strong support at 1.3012 and by 1.3126 as strong resistance.
If EUR/USD breaks out and closes below 1.3004 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3133 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 level of 1.3038 and at 1.3100, a SELL position. In this case both targets should be located at the level of 1.3069.

Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://forex-insta.com
E-mail: Arief.jakarta@indo.instaforex.com

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