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23.10.2012 11:37 AM
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.
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 InstaTrade Companies Group
InstaTrade Companies Group
http://ifxbestrade.net
E-mail: Arief.jakarta@indo.instaforex.com
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
