When the European market opens, some economic data will be released such as Italian Trade Balance, German ZEW Economic Sentiment, ZEW Economic Sentiment, Trade Balance, Treasury Currency Report, and German Import Prices m/m. On the USD side, the US will release a series of economic reports such as NAHB Housing Market Index, JOLTS Job Openings, Industrial Production m/m, and Capacity Utilization Rate. So, amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1640
Strong Resistance: 1.1633
Original Resistance: 1.1622
Inner Sell Area: 1.1611
Target Inner Area: 1.1584
Inner Buy Area: 1.1557
Original Support: 1.1546
Strong Support: 1.1535
Breakout SELL Level: 1.1528
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.
The material has been provided by InstaForex Company - www.instaforex.com