When the European market opens, there will be released some news like French Gov Budget Balance; French Trade Balance; German Factory Orders m/m, but when the US market opens, some of the most important news will be released: the US - Non-Farm Employment Change; and US - Unemployment Rate data's. So we predict the EUR/USD will move in a slow-moderate way but they will move slightly in high volatility after the US NFP's and US Unemployment Rates will be released in the US market session.
Today's technical levels:
Breakout BUY Level: 1.3734.
Strong Resistance:1.3725.
Original Resistance: 1.3712.
Inner Sell Area: 1.3699.
Target Inner Area: 1.3666.
Inner Buy Area: 1.3633.
Original Support: 1.3620.
Strong Support: 1.3607.
Breakout SELL Level: 1.3598.
DESCRIPTION :
Today the EUR/USD has support and resistance at 1.3620 and 1.3712. The rate is accompanied by strong support at 1.3607 and by 1.3725 as strong resistance.
If the EUR/USD breaks out and closes below 1.3598 level today, then it will indicate considerable bearish strength. Meanwhile, if the EUR/USD manages to break out and closes above 1.3734 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 1.3633 and at 1.3699, a SELL position. In this case both targets should be located at the level of 1.3666.
Best regards,
Arief Makmur
Official Analyst of InstaForex Group
InstaForex Group
https://instaforex.com
blog.mt5.com/arief
https://www.mt5.com/forex_analysis_award/profile/index/arief
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.
