DESCRIPTION:
Yesterday, the Eurozone released the M3 Money Supply y/y, but the result did not satisfy market participants. Eventually, the EUR/USD got stuck at the 1.3475 level, this currency pair was trapped in the sideways situation between the support 1.3425 and the resistance 1.3475. Now we are looking for today news releases: GfK German Consumer Climate and the German Import Price Index m/m. We hope this news will give good momentum and volatility for this currency pair to break their support or resistance.
Recommendation:
Buy stop pending order at 1.3476
Stop loss at 1.3466.
Take profit at 1.3490.
And
Sell stop pending order at 1.3424.
Stop loss at 1.3434.
Take profit at 1.3410.
Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
https://instaforex.com
Email : Arief.jakarta@indo.instaforex.com
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.
