When the European market opens, some economic data will be released in the eurozone such as Italian Retail Sales m/m, French Trade Balance, French GovBudget Balance, German PPI m/m, and German Factory Orders m/m. The US will present a series of economic data too such as Consumer Credit m/m, Trade Balance, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, amid the reports, EUR/USD will move with medium to high volatility during this day.
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1573
Strong Resistance:1.1566
Original Resistance: 1.1555
Inner Sell Area: 1.1544
Target Inner Area: 1.1517
Inner Buy Area: 1.1490
Original Support: 1.1479
Strong Support: 1.1468
Breakout SELL Level: 1.1461
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.
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