FX.co ★ Technical analysis of EUR/USD for April 30, 2014

When the European market opens, some economic news will be released such as German Retail Sales m/m, French Consumer Spending m/m, Spanish Flash GDP q/q, German Unemployment Change, Italian Monthly Unemployment Rate, CPI Flash Estimate y/y, and Italian Prelim CPI m/m. The US will disclose its ADP Non-Farm Employment Change, Advance GDP q/q, Advance GDP Price Index q/q, Employment Cost Index q/q, Chicago PMI, Crude Oil Inventories, FOMC Statement, and Federal Funds Rate. So amid the reports, EUR/USD will move with low to medium volatility today.

Today's technical levels:

Breakout BUY Level: 1.3881.
Strong Resistance:1.3872.
Original Resistance: 1.3859.
Inner Sell Area: 1.3846.
Target Inner Area: 1.3813.
Inner Buy Area: 1.3780.
Original Support: 1.3767.
Strong Support: 1.3754.
Breakout SELL Level: 1.3745.

Description:
Today EUR/USD has support and resistance at 1.3767 and 1.3859. The rate is accompanied by strong support at 1.3754 and by 1.3872 as strong resistance. In case EUR/USD breaks out and closes below the 1.3745 level today, it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3881 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 1.3780 and SELL position at 1.3846. In this case both targets should be placed at the level of 1.3813.

Best regards,
Arief Makmur
Official Analyst of InstaForex Group
InstaForex Group https://instaforex.com

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