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Exchange Rates 23.08.2013 analysis

TODAY's  TECHNICAL  LEVELS:

Breakout BUY Level: 1.3406.

Strong Resistance: 1.3398.

Original Resistance: 1.3385.

Inner Sell Area: 1.3372.

Target Inner Area: 1.3341.

Inner Buy Area: 1.3310.

Original Support: 1.3297.

Strong Support: 1.3284.

Breakout SELL Level: 1.3276.

  

DESCRIPTION:

Today, EUR/USD has support and resistance at 1.3297 and 1.3385. The rate is accompanied by strong support at 1.3284 and by 1.3398 as strong resistance. If EUR/USD breaks out and closes below the 1.3276 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3406 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 1.3310 and at 1.3372, a SELL position. In this case both targets should be located at the level of 1.3341.  


Best regards,

Arief Makmur

Official Analyst of Instant Trading EU Ltd

Instant Trading EU Ltd

http://instaforex.eu

Email : Arief.jakarta@indo.instaforex.com

Yahoo Messenger & Skype : Arief.ifx_jakarta

blog.mt5.com/arief

http://www.mt5.com/forex_analysis_award/profile/index/arief

Disclaimer:

Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

 

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Arief Makmur,
Analytical expert
Instant Trading EU Ltd © 2007-2018
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