EUR/USD Technical Support And Resistance For May 05 / 2011

TODAY  TECHNICAL  LEVEL :

Breakout BUY Level : 1.4899.
Strong Support : 1.4890.
Original Resistance : 1.4876.
Inner Sell Area : 1.4862.
Target Inner Area : 1.4827.
Inner Buy Area : 1.4792.
Original SUpport : 1.4778.
Strong Support : 1.4764.
Breakout SELL Level : 1.4755.

TODAY  OUTLOOK :

It seems the EUR/USD will be trading in a sideways situation  between the 1.4775 and the 1.4875 levels until tomorow's release of the US Unemployment Report and the Non Farm Payrolls data; so it seems after the Eurozone Market releases the minimum bid rate this afternoon, the volatility of this pair will be normal again , because before that in the early morning session, the Japanesse Market is closed (red: Bank Holiday).

TODAY  SUGGESTION :

BUY   if the EUR/USD can break out and close above the 1.4875, set the first target at 1.4894 and 1.4927 as the second target.
SELL if the EUR/USD can break out and close below the 1.4854, set the first target at 1.4834 and 1.4806 as the second target.

http://instaforex.com/forex_analysis/28041/?x=OUE