See also
02.07.2010 03:00 PMIn theory, after a strong upward movement like yesterday, usually EUR/USD must be going to downside first into 23.6% Fibs (1.2455); or 38.2% Fibs (1.2404) and maximal at 48.6% Fibs (1.2369) before this pair continues its strong upward motion. However if this pair can break 48.6% Fibs, the EUR/USD will continue to look for another support at 68.5% Fibs (1.2300) or 78.6% Fibs (1.2266). If this happens it means the upward movement of this pair will end and this pair seems start coming into a ranging situation again. Please pay attention to this day because this is the first Friday; US Market will release Non-Farm Payrolls and Unemployment Rate reports; please take care for trade this day.
And this is the important intraday levels for this pair today:
Breakout Buy level : 1.2571.
Strong Resistance : 1.2564.
Original Resistance : 1.2552.
Inner Sell Area : 1.2540.
Target Inner Area : 1.2510.
Inner Buy Area : 1.2480.
Original Support : 1.2468.
Strong Support : 1.2456.
Breakout Sell level : 1.2448.
Here's the sceenshot:
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