FX.co ★ EUR/USD Intraday Technical Levels for January 20, 2012

TODAY's TECHNICAL LEVELS:

Breakout BUY Level : 1.3020.

Strong Resistance : 1.3012.

Original Resistance : 1.3001.

Inner Sell Area : 1.2988.

Target Inner Area : 1.2958.

Inner Buy Area : 1.2927.

Original Support : 1.2915.

Strong Support : 1.2902.

Breakout SELL Level : 1.2895.

DESCRIPTION :

Today EUR/USD has support and resistance at 1.2915 and 1.3001 and is accompanied by strong support at 1.2902 and by 1.3012 as strong resistance.

If EUR/USD breaks out and closes below a 1.2895-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.3020-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2927, and at 1.2988 – a SELL position, in this case both targets should be located at the level of 1.2958.