EUR/USD Intraday Technical Levels for May 18, 2012

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TODAY's TECHNICAL LEVELS:

Breakout BUY Level : 1.2758.
Strong Resistance : 1.2750.
Original Resistance : 1.2738.
Inner Sell Area : 1.2726.
Target Inner Area : 1.2696.
Inner Buy Area : 1.2666.
Original Support : 1.2654.
Strong Support : 1.2641.
Breakout SELL Level : 1.2633.

DESCRIPTION :

Today EUR/USD has support and resistance at 1.2654 and 1.2738 and is accompanied by strong support at 1.2641 and by 1.2750 as strong resistance.
If EUR/USD breaks out and closes below a 1.2633-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.2758-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.2666 and at 1.2726 – a SELL position, in this case both targets should be located at the level of 1.2696.