Yesterday, after the release of the Italian Manufacturing PMI below the market expectations, the EUR/USD got under pressure to go down. For today, we wait for the US ISM Manufacturing release. All the market participants are now waiting for next Friday to see the US Non Farm Payrolls and the US Unemployment Rate data.
TODAY's TECHNICAL LEVELS:
Breakout BUY level: 1.3586.
Strong Resistance:1.3578.
Original Resistance: 1.3565.
Inner Sell Area: 1.3552.
Target Inner Area: 1.3520.
Inner Buy Area: 1.3488.
Original Support: 1.3475.
Strong Support: 1.3462
Breakout SELL level: 1.3454.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3475 and 1.3565. The rate is accompanied by strong support at 1.3462 and by 1.3578 as strong resistance. If EUR/USD breaks out and closes below 1.3454 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3586 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 1.3488 and at 1.3552, a SELL position. In this case both targets should be located at the level of 1.3520.
Best regards,
Official Analyst of InstaForex Group
InstaForex Group
https://instaforex.com
Email : Arief.jakarta@indo.instaforex.com
blog.mt5.com/arief
https://www.mt5.com/forex_analysis_award/profile/index/arief
Disclaimer:
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