Today some data is due to release in the eurozone. In particular, it is Current Account, Trade Balance, which are set to be announced a few hours after the London market open. Within the US session, the US - TIC Long-Term Purchases, the US -  NAHB Housing Market Index are on tap. As today's news is not giving any significant impact on the EUR/USD pair, probably the price action will be moderate.

TODAY's  TECHNICAL  LEVELS:

Breakout BUY level: 1.3546.

Strong Resistance:1.3538.

Original Resistance: 1.3525.

Inner Sell Area: 1.3512.

Target Inner Area: 1.3480.

Inner Buy Area: 1.3448.

Original Support: 1.3435.

Strong Support: 1.3422.

Breakout SELL level: 1.3414. 

DESCRIPTION: 

Today EUR/USD has support and resistance at 1.3435 and 1.3525. The rate is accompanied by strong support at 1.3422 and by 1.3538 as strong resistance.

If EUR/USD breaks out and closes below 1.3414 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3546 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 1.3448 and at 1.3512, a SELL position. In this case both targets should be located at the level of 1.3480.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

blog.mt5.com/arief

http://www.mt5.com/forex_analysis_award/profile/index/arief

Disclaimer:

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