EUR/USD Technical Analysis. Support And Resistance Levels For April 26 / 2011

TODAY  TECHNICAL  LEVEL :

Breakout Buy level : 1.4623.
Strong Resistance : 1.4614.
Original Resistance : 1.4600.
Inner Sell Area : 1.4586.
Target Inner Area : 1.4551.
Inner Buy Area : 1.4516.
Original Support : 1.4502.
Strong Support : 1.4488.
Breakout Sell level : 1.4479.

TODAY  OUTLOOK :

Even in the bigger timeframes the trend bias of this currency is still in an uptrend, but in the intraday charts the EUR/USD looks exhausted from the uptrend movement (red: we spot the Head And Shoulder formation in the m30), it must advance to the upside again, this pair needs  a retracement (event a small one) to provide a good and healthy Bullish trend. So please pay attention to Today Intraday Breakout SELL Level at 1.4479, especially if the EUR/USD can break out and close below that level. However if this pair can break out and close above the 1.4625 (The "head" of the Head and Shoulder Formation) it will hold the downtrend situation for today.

TODAY  SUGGESTION :

BUY   if the EUR/USD can break out and close above 1.4550; set the first target at 1.4568 and 1.4600 as the second target.
SELL if the EUR/USD can break out and close below 1.4475; set the first target at 1.4450 and the second target at 1.4425.


http://instaforex.com/forex_analysis/27425/?x=OUE