When the European market opens, some Economic Data will be released such as Unemployment Rate, Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, and French Prelim CPI m/m. The US will also release the Economic Data such as Crude Oil Inventories, Natural Gas Storage, Pending Home Sales m/m, Chicago PMI, Personal Income m/m, Unemployment Claims, Personal Spending m/m, Core PCE Price Index m/m, and Challenger Job Cuts y/y, so amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1721.
Strong Resistance:1.1714.
Original Resistance: 1.1703.
Inner Sell Area: 1.1664.
Target Inner Area: 1.1537.
Inner Buy Area: 1.1636.
Original Support: 1.1625.
Strong Support: 1.1614.
Breakout SELL Level: 1.1607.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level 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 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.
