When the European market opens, some economic data will be released such as German WPI m/m. The US will also deliver some economic news such as the Richmond Manufacturing Index, CB Consumer Confidence, S&P/CSComposite-20 HPI y/y, and HPI m/m. So, amid the reports EUR/USD will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1811
Strong Resistance:1.1804
Original Resistance: 1.1793
Inner Sell Area: 1.1782
Target Inner Area: 1.1754
Inner Buy Area: 1.1726
Original Support: 1.1715
Strong Support: 1.1704
Breakout SELL Level: 1.1697
Disclaimer: Trading Forex (foreign exchange) on margin carries a highlevel of risk, and may not be suitable for all Traders or Investors.The high degree of leverage can work against you as well as for you.Before deciding to invest in foreign exchange you should carefullyconsider your investment objectives, level of experience, and riskappetite. The possibility exists that you could sustain a loss of someor all of your initial investment and therefore you should not investmoney that you cannot afford to lose. You should be aware of all therisks associated with foreign exchange trading, and seek advice froman independent financial advisor if you have any doubts.
The material has been provided by InstaForex Company - www.instaforex.com