EUR/USD intraday technical levels for December 18, 2013
December 18, 2013 6:45 am
Since the beginning of the week, EUR/USD has moved in a range. The market is waiting for the U.S. FOMC desicion to be announced tonight. All the market participants concern about the tapering issue: when the Fed will start to scale back its $85 billion program. Today, we predict the EUR/USD price will move with low volatility during the European trading session, but high volatility is expected during the US trading session, because the Eurozone will release the German Ifo Business Climate Index, and the U.S. will reveal many important economic indicators such as Building Permits, Housing Starts, Flash Services PMI, Crude Oil Inventories, Federal Funds Rate, and FOMC Statement.
TODAY’s TECHNICAL LEVELS:
Breakout BUY level: 1.3836.
Strong Resistance:1.3827.
Original Resistance: 1.3814.
Inner Sell Area: 1.3801.
Target Inner Area: 1.3768.
Inner Buy Area: 1.3735.
Original Support: 1.3722.
Strong Support: 1.3709.
Breakout SELL level: 1.3700.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3722 and 1.3814 respectively. The rates are accompanied by strong support at 1.3709 and by 1.3827 as strong resistance.
If EUR/USD breaks out and closes below the 1.3700 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3836 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in the way to open a BUY position at the level of 1.3735 and at 1.3801, a SELL position. In this case both targets should be placed at the level of 1.3768.
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
Since the beginning of the week, EUR/USD has moved in a range. The market is waiting for the U.S. FOMC desicion to be announced tonight. All the market participants concern about the tapering issue: when the Fed will start to scale back its $85 billion program. Today, we predict the EUR/USD price will move with low volatility during the European trading session, but high volatility is expected during the US trading session, because the Eurozone will release the German Ifo Business Climate Index, and the U.S. will reveal many important economic indicators such as Building Permits, Housing Starts, Flash Services PMI, Crude Oil Inventories, Federal Funds Rate, and FOMC Statement.
TODAY’s TECHNICAL LEVELS:
Breakout BUY level: 1.3836.
Strong Resistance:1.3827.
Original Resistance: 1.3814.
Inner Sell Area: 1.3801.
Target Inner Area: 1.3768.
Inner Buy Area: 1.3735.
Original Support: 1.3722.
Strong Support: 1.3709.
Breakout SELL level: 1.3700.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3722 and 1.3814 respectively. The rates are accompanied by strong support at 1.3709 and by 1.3827 as strong resistance.
If EUR/USD breaks out and closes below the 1.3700 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3836 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in the way to open a BUY position at the level of 1.3735 and at 1.3801, a SELL position. In this case both targets should be placed at the level of 1.3768.
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: