At the European session, there will be released some data from the euro zone such as French Prelim GDP q/q; German Prelim GDP q/q; French Prelim Non-Farm Payrolls q/q; French CPI m/m; ECB Monthly Bulletin; Italian Prelim GDP q/q; and the Eurozone Flash GDP q/q; the Eurogroup's Meeting. At the US Market session, there will be released the US Trade Balance; and the US Unemployment Claims data; and please pay attention to the Fed Chairperson-Designate Yellen Statement.
TODAY's TECHNICAL LEVELS:
Breakout BUY level: 1.3549.
Strong Resistance:1.3541.
Original Resistance: 1.3528.
Inner Sell Area: 1.3515.
Target Inner Area: 1.3483.
Inner Buy Area: 1.3451.
Original Support: 1.3438.
Strong Support: 1.3425.
Breakout SELL level: 1.3417.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3438 and 1.3528. The rate is accompanied by strong support at 1.3425 and by 1.3541 as strong resistance.
If EUR/USD breaks out and closes below 1.3417 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3549 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 1.3451 and at 1.3515, a SELL position. In this case both targets should be located at the level of 1.3483.
Best regards,
Arief Makmur
Official Analyst of InstaForex Group
InstaForex Group
http://instaforex.com
blog.mt5.com/arief
http://www.mt5.com/forex_analysis_award/profile/index/arief
Disclaimer:
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