15.03.201110:30 Forex Analysis & Reviews: EUR/USD Technical Analysis. Support And Resistance Levels For March 15/2011

Long-term review

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TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.4061.
Strong Resistance : 1.4053.
Original Resistance : 1.4039.
Inner Sell Area : 1.4025.
Target Inner Area : 1.3992.
Inner Buy Area : 1.3959.
Original Support : 1.3945.
Strong Support : 1.3931.
Breakout Sell level : 1.3923.

TODAY OUTLOOK :

Since early morning the EUR/USD has been trading in a ranging situation between 1.3975 and 1.4000. However, the pair unexpectedly broke out and closed below 1.3975. Now it is going to test the next support at 1.3950 and this level can be easily broken because the EUR/USD wants to test the Fibonacci support area 78.6% at 1.3928. If this level can be broken out too, there is a possibility that today the pair will go down again to the 1.3900 level.

TODAY SUGGESTION :

NO TRADE suggested during the FOMC statement.

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