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05.01.2018 03:25 AM
Technical analysis of EUR/USD for Jan 05, 2018

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When the European market opens, some economic data will be released such as Italian Prelim CPI m/m, PPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, and Retail PMI, as well as French Prelim CPI m/m and German Retail Sales m/m. The US will publish some macroeconomic reports too: Factory Orders m/m, ISM Non-Manufacturing PMI, Trade Balance, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. Amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.2137.

Strong Resistance:1.2130.

Original Resistance: 1.2118.

Inner Sell Area: 1.2106.

Target Inner Area: 1.2078.

Inner Buy Area: 1.2050.

Original Support: 1.2038.

Strong Support: 1.2026.

Breakout SELL Level: 1.2019.

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.

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