We predict today the EUR/USD will move in low to mid volatility, because today in Euro Zone, German have a bank holiday and only data will be released by France. It is French Consumer Spending m/m. The US will release some data such as US-Core Durable Goods Orders m/m, US-Durable Goods Orders m/m, US-HPI m/m, US-New Home Sales, US-Richmond Manufacturing Index. We must remember during the Christmas Eve until the New Years Eve the volatility will be decreased, because many market participants are out the market and this situation can make the price movement ranging and tend to be choppy.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3753.
Strong Resistance:1.3744.
Original Resistance: 1.3731.
Inner Sell Area: 1.3718.
Target Inner Area: 1.3685.
Inner Buy Area: 1.3652.
Original Support: 1.3639.
Strong Support: 1.3626.
Breakout SELL Level: 1.3617.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3639 and 1.3731. The rate is accompanied by strong support at 1.3626 and by 1.3744 as strong resistance.
If EUR/USD breaks out and closes below 1.3617 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3753 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 1.3652 and at 1.3718, a SELL position. In this case both targets should be located at the level of 1.3685.
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.
