When the European market opens, some economic data will be released such as Industrial Production m/m and German Final CPI m/m. The US will release a batch of economic reports too such as Federal Budget Balance, Prelim UoM Inflation Expectations, Prelim UoM Consumer Sentiment, and Import Prices m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1645
Strong Resistance: 1.1638
Original Resistance: 1.1627
Inner Sell Area: 1.1616
Target Inner Area: 1.1589
Inner Buy Area: 1.1562
Original Support: 1.1551
Strong Support: 1.1540
Breakout SELL Level: 1.1533
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