Technical analysis of EUR/USD for February 12, 2014
February 12, 2014 6:40 amVideo
Latest News
- Analysis of EUR/USD on May 8th. Euro aims for the 1.5 figure May 8, 2024
- Analysis of GBP/USD on May 8th. The pound hits an important level May 8, 2024
- USD/JPY: Simple Trading tips for novice traders on May 8th (US session) May 8, 2024
- GBP/USD: Simple trading tips for novice traders on May 8th (US session) May 8, 2024
- EUR/USD: Simple trading tips for novice traders on May 8th (US session) May 8, 2024
- Trading Signals for CRUDE OIL (WIT) for May 8-15, 2024: buy above $78.12 (21 SMA – 2/8 Murray) May 8, 2024
- GBP/USD: trading plan for the US session on May 8th (analysis of morning deals). The pound was bought in the area of 1.2471 May 8, 2024
- EUR/USD: trading plan for the US session on May 8th (analysis of morning deals). No statistics, no movement May 8, 2024
- EUR/USD. May 8th. The market continues to rest against the background of an empty calendar May 8, 2024
- Technical Analysis – USDCAD enjoys renewed strength May 8, 2024
- Technical Analysis – US 500 index advances towards all-time high May 8, 2024
- GBP/USD. May 8th. The pound does not expect a rate cut by the Bank of England May 8, 2024
- Video market update for May 08, 2024 May 8, 2024
- Technical Analysis – EURJPY flirts with 167.00 again May 8, 2024
- Technical Analysis – WTI oil futures restart downtrend May 8, 2024
- Forex forecast 05/08/2024: EUR/USD, Oil, Gold and SP500 from Sebastian Seliga May 8, 2024
- Technical Analysis – GBPUSD pulls back after testing 50-day SMA May 8, 2024
- Market Comment – US dollar recovers, stocks’ rally stalls as market tries to find its footing May 8, 2024
- USD/JPY: trading tips for beginners for European session on May 8 May 8, 2024
- Weekly Technical Outlook: 08/05/2024 – USDJPY, GBPUSD, USDCAD May 8, 2024
When the European market opens, there will be a release of Industrial Production m/m.The US will release the economic data such as the US-Crude Oil Inventories, US-10-y Bond Auction, US-Federal Budget Balance, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY’s TECHNICAL LEVELS:
Breakout BUY Level: 1.3700.
Strong Resistance:1.3692.
Original Resistance: 1.3679.
Inner Sell Area: 1.3666.
Target Inner Area: 1.3634.
Inner Buy Area: 1.3602.
Original Support: 1.3589.
Strong Support: 1.3576.
Breakout SELL Level: 1.3568.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3589 and 1.3679. The rate is accompanied by strong support at 1.3576 and by 1.3692 as strong resistance.
If EUR/USD breaks out and closes below the 1.3568 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3700 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 1.3602 and at 1.3666, a SELL position. In this case both targets should be placed at the level of 1.3634.
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: