When the European market opens, a slew of economic data will be released such as Long Term Refinancing Operation, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI. The US will release the economic data too such as TIC Long-Term Purchases, Natural Gas Storage, NAHB Housing Market Index, Flash Manufacturing PMI, Empire State Manufacturing Index, Current Account, Unemployment Claims, Philly Fed Manufacturing Index, Core CPI m/m, and CPI m/m. Thus, amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0538.
Strong Resistance:1.0531.
Original Resistance: 1.0521.
Inner Sell Area: 1.0511.
Target Inner Area: 1.0486.
Inner Buy Area: 1.0461.
Original Support: 1.0451.
Strong Support: 1.0441.
Breakout SELL Level: 1.0434.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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