EUR/USD intraday technical levels for December 16, 2013
December 16, 2013 6:45 am
All attention of the market participants is now turned to the FOMC meeting scheduled this week, especially to the “tapering” issue, because the result will determine market participants’ sentiment in the future. While we are waiting for the FOMC meeting, we predict the market will move under ranging condition. Today after the European market opens, there will be some data such as French Flash Manufacturing PMI, German Flash Manufacturing PMI, Flash Manufacturing PMI, Italian Trade Balance, Euro Zone Trade Balance; and when the US market opens tonight, there will be some data like US-Flash Manufacturing PMI, US-TIC Long-Term Purchases, US-Industrial Production m/m. So we predict EUR/USD to be a little bit volataile during the European and US trading sessions.
TODAY’s TECHNICAL LEVELS:
Breakout BUY level: 1.3814.
Strong Resistance:1.3805.
Original Resistance: 1.3792.
Inner Sell Area: 1.3779.
Target Inner Area: 1.3746.
Inner Buy Area: 1.3713.
Original Support: 1.3700.
Strong Support: 1.3687.
Breakout SELL level: 1.3678.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3700 and 1.3792. The rate is accompanied by strong support at 1.3687 and by 1.3805 as strong resistance.
If EUR/USD breaks out and closes below 1.3678 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3814 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 1.3713 and at 1.3779, a SELL position. In this case both targets should be located at the level of 1.3746.
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
All attention of the market participants is now turned to the FOMC meeting scheduled this week, especially to the “tapering” issue, because the result will determine market participants’ sentiment in the future. While we are waiting for the FOMC meeting, we predict the market will move under ranging condition. Today after the European market opens, there will be some data such as French Flash Manufacturing PMI, German Flash Manufacturing PMI, Flash Manufacturing PMI, Italian Trade Balance, Euro Zone Trade Balance; and when the US market opens tonight, there will be some data like US-Flash Manufacturing PMI, US-TIC Long-Term Purchases, US-Industrial Production m/m. So we predict EUR/USD to be a little bit volataile during the European and US trading sessions.
TODAY’s TECHNICAL LEVELS:
Breakout BUY level: 1.3814.
Strong Resistance:1.3805.
Original Resistance: 1.3792.
Inner Sell Area: 1.3779.
Target Inner Area: 1.3746.
Inner Buy Area: 1.3713.
Original Support: 1.3700.
Strong Support: 1.3687.
Breakout SELL level: 1.3678.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3700 and 1.3792. The rate is accompanied by strong support at 1.3687 and by 1.3805 as strong resistance.
If EUR/USD breaks out and closes below 1.3678 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3814 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 1.3713 and at 1.3779, a SELL position. In this case both targets should be located at the level of 1.3746.
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
Related Posts: