EUR/USD intraday technical levels for December 10, 2013
December 10, 2013 6:15 am
After the European market opens, there will be a release of some news from eurozone like French Industrial Production m/m; Italian Industrial Production m/m; ECOFIN Meetings; and a few hours before the US market opens, the ECB President Draghi will speak. This event will be one of the most important moment to watch by the market participants. After the US market opens, some news like NFIB Small Business Index; JOLTS Job Openings; Wholesale Inventories m/m will be released; so we predict EUR/USD today will move with low to moderate volatility.
TODAY’s TECHNICAL LEVELS:
Breakout BUY level: 1.3806.
Strong Resistance:1.3797.
Original Resistance: 1.3784.
Inner Sell Area: 1.3771.
Target Inner Area: 1.3738.
Inner Buy Area: 1.3706.
Original Support: 1.3692.
Strong Support: 1.3679.
Breakout SELL level: 1.3670.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3692 and 1.3784. The rate is accompanied by strong support at 1.3679 and by 1.3797 as strong resistance.
If EUR/USD breaks out and closes below 1.3670 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3806 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 1.3706 and at 1.3771, a SELL position. In this case both targets should be located at the level of 1.3738.
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
After the European market opens, there will be a release of some news from eurozone like French Industrial Production m/m; Italian Industrial Production m/m; ECOFIN Meetings; and a few hours before the US market opens, the ECB President Draghi will speak. This event will be one of the most important moment to watch by the market participants. After the US market opens, some news like NFIB Small Business Index; JOLTS Job Openings; Wholesale Inventories m/m will be released; so we predict EUR/USD today will move with low to moderate volatility.
TODAY’s TECHNICAL LEVELS:
Breakout BUY level: 1.3806.
Strong Resistance:1.3797.
Original Resistance: 1.3784.
Inner Sell Area: 1.3771.
Target Inner Area: 1.3738.
Inner Buy Area: 1.3706.
Original Support: 1.3692.
Strong Support: 1.3679.
Breakout SELL level: 1.3670.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3692 and 1.3784. The rate is accompanied by strong support at 1.3679 and by 1.3797 as strong resistance.
If EUR/USD breaks out and closes below 1.3670 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3806 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 1.3706 and at 1.3771, a SELL position. In this case both targets should be located at the level of 1.3738.
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:
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
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