EUR/USD intraday technical levels for November 20, 2013
November 20, 2013 6:15 am
When the European market opens, data from German (PPI m/m) will be released, but when the US session starts, there will be some important news like US Core CPI m/m; US Core Retail Sales m/m; US Retail Sales m/m; and US Existing Home Sales, and some not very significant news like US Business Inventories m/m and US Crude Oil Inventories. We predict when the London market opens, the price of this currency pair will move with low to moderate pace, but when the US market opens, the pair will start moving with moderate to high volatility.
TODAY’s TECHNICAL LEVELS:
Breakout BUY level: 1.3623.
Strong Resistance:1.3615.
Original Resistance: 1.3602.
Inner Sell Area: 1.3589.
Target Inner Area: 1.3557.
Inner Buy Area: 1.3525.
Original Support: 1.3512.
Strong Support: 1.3499.
Breakout SELL level: 1.3491.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3512 and 1.3602. The rate is accompanied by strong support at 1.3499 and by 1.3615 as strong resistance.
If EUR/USD breaks out and closes below 1.3491 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3623 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 1.3525 and at 1.3589, a SELL position. In this case both targets should be located at the level of 1.3557.
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
When the European market opens, data from German (PPI m/m) will be released, but when the US session starts, there will be some important news like US Core CPI m/m; US Core Retail Sales m/m; US Retail Sales m/m; and US Existing Home Sales, and some not very significant news like US Business Inventories m/m and US Crude Oil Inventories. We predict when the London market opens, the price of this currency pair will move with low to moderate pace, but when the US market opens, the pair will start moving with moderate to high volatility.
TODAY’s TECHNICAL LEVELS:
Breakout BUY level: 1.3623.
Strong Resistance:1.3615.
Original Resistance: 1.3602.
Inner Sell Area: 1.3589.
Target Inner Area: 1.3557.
Inner Buy Area: 1.3525.
Original Support: 1.3512.
Strong Support: 1.3499.
Breakout SELL level: 1.3491.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3512 and 1.3602. The rate is accompanied by strong support at 1.3499 and by 1.3615 as strong resistance.
If EUR/USD breaks out and closes below 1.3491 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3623 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 1.3525 and at 1.3589, a SELL position. In this case both targets should be located at the level of 1.3557.
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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