05.11.201409:40 Technical analysis of EUR/USD for November 04, 2014

Long-term review

Exchange Rates 05.11.2014 analysis

When the European market opens, some economic news will be released such as Spanish Unemployment Change, EU Economic Forecasts, and PPI m/m. The US will release the economic data too such as the Trade Balance, Factory Orders m/m, IBD/TIPP Economic Optimism, and Congressional Elections. So, amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.2559.
Strong Resistance:1.2551.
Original Resistance: 1.2539.
Inner Sell Area: 1.2527.
Target Inner Area: 1.2497.
Inner Buy Area: 1.2467.
Original Support: 1.2455.
Strong Support: 1.2443.
Breakout SELL Level: 1.2435.

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 market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Arief Makmur,
Analytical expert
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