For today, there is the German PPI m/m Economic News Release, before the London Market opens. But it seems today after the London and the US markets open, the market tend to be move in a range and a choppy situation, please be careful with the opening of new positions, unless you can close your trade in this day. You will have a chance for your opened positions to be float in the market until the US Unemployment Rates and US Non Farm Payrolls Economic Release tomorrow, because during these two Economic Releases, the market tends to move in a range and a choppy situation.
TODAY's TECHNICAL LEVELS:
Breakout BUY level: 1.3748.
Strong Resistance: 1.3739.
Original Resistance: 1.3726.
Inner Sell Area: 1.3713.
Target Inner Area: 1.3680.
Inner Buy Area: 1.3647.
Original Support: 1.3634.
Strong Support: 1.3621.
Breakout SELL level: 1.3612.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3634 and 1.3726. The rate is accompanied by strong support at 1.3621 and by 1.3739 as strong resistance.
If EUR/USD breaks out and closes below 1.3612 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3748 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 1.3647 and at 1.3713, a SELL position. In this case both targets should be located at the level of 1.3680.
Best regards,
Official Analyst of InstaForex Group
InstaForex Group
http://instaforex.com
Email : Arief.jakarta@indo.instaforex.com
blog.mt5.com/arief
http://www.mt5.com/forex_analysis_award/profile/index/arief
Disclaimer:
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