When the European market opens, some economic news will be released such as German Ifo Business Climate, Spanish 10-y Bond Auction, including the ECB President Mario Draghi speaks.The US will release the economic data too such as the Core Durable Goods Orders m/m, Unemployment Claims, Natural Gas Storage, Durable Goods Orders m/m.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3885.
Strong Resistance:1.3876.
Original Resistance: 1.3863.
Inner Sell Area: 1.3850.
Target Inner Area: 1.3817.
Inner Buy Area: 1.3784.
Original Support: 1.3771.
Strong Support: 1.3758.
Breakout SELL Level: 1.3749.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3771 and 1.3863. The rate is accompanied by strong support at 1.3758 and by 1.3876 as strong resistance.
If EUR/USD breaks out and closes below the 1.3749 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3885 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 1.3784 and at 1.3850, a SELL position. In this case both targets should be placed at the level of 1.3817.
Best regards,
Official Analyst of InstaForex Group
InstaForex Group
http://instaforex.com
For more analysis go to: blog.mt5.com/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. The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of EUR/USD for April 24, 2014 . Thanks for your support on Technical analysis of EUR/USD for April 24, 2014
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