EUR/USD Intraday Technical Levels for July 9, 2012 2012-07-09

EUR/USD Intraday Technical Levels for July 9, 2012 2012-07-09

TODAY's TECHNICAL LEVELS:

Breakout BUY Level : 1.2329.

Strong Resistance: 1.2321.

Original Resistance: 1.2310.

Inner Sell Area: 1.2298.

Target Inner Area: 1.2269.

Inner Buy Area: 1.2239.

Original Support: 1.2228.

Strong Support: 1.2217.

Breakout SELL Level: 1.2209.


DESCRIPTION:
Today EUR/USD has support and resistance at 1.2228 and 1.2310 and is accompanied by strong support at 1.2217 and by 1.2321 as strong resistance.

If EUR/USD breaks out and closes below a 1.2209-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2329-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2239, and at 1.2298 – a SELL position, in this case both targets should be located at the level of 1.2269.

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