Technical analysis of EUR/USD for January 08, 2014
January 8, 2014 6:45 am
The EUR/USD today has a chance to move in medium to high volatility because from the Euro Zone we expect such data as German Trade Balance, Italian Monthly Unemployment Rate, Retail Sales m/m, Unemployment Rate, German Factory Orders m/m, and from the US market we will get the US ADP Non-Farm Employment Change, US Crude Oil Inventories, US 10-y Bond Auction, US FOMC Meeting Minutes, US Consumer Credit m/m. As we know, the US ADP will be the clue for the next Friday US Non-Farm Payrolls data.
TODAY’s TECHNICAL LEVEL:
Breakout BUY Level: 1.3674.
Strong Resistance:1.3666.
Original Resistance: 1.3653.
Inner Sell Area: 1.3640.
Target Inner Area: 1.3608.
Inner Buy Area: 1.3576.
Original Support: 1.3563.
Strong Support: 1.3550.
Breakout SELL Level: 1.3542.
DESCRIPTION :
Today EUR/USD has support and resistance at 1.3563 and 1.3653. The rate is accompanied by strong support at 1.3550 and by 1.3666 as strong resistance. If EUR/USD breaks out and closes below 1.3542 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3674 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 1.3576 and at 1.3640, a SELL position. In this case both targets should be located at the level of 1.3608.
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
The EUR/USD today has a chance to move in medium to high volatility because from the Euro Zone we expect such data as German Trade Balance, Italian Monthly Unemployment Rate, Retail Sales m/m, Unemployment Rate, German Factory Orders m/m, and from the US market we will get the US ADP Non-Farm Employment Change, US Crude Oil Inventories, US 10-y Bond Auction, US FOMC Meeting Minutes, US Consumer Credit m/m. As we know, the US ADP will be the clue for the next Friday US Non-Farm Payrolls data.
TODAY’s TECHNICAL LEVEL:
Breakout BUY Level: 1.3674.
Strong Resistance:1.3666.
Original Resistance: 1.3653.
Inner Sell Area: 1.3640.
Target Inner Area: 1.3608.
Inner Buy Area: 1.3576.
Original Support: 1.3563.
Strong Support: 1.3550.
Breakout SELL Level: 1.3542.
DESCRIPTION :
Today EUR/USD has support and resistance at 1.3563 and 1.3653. The rate is accompanied by strong support at 1.3550 and by 1.3666 as strong resistance. If EUR/USD breaks out and closes below 1.3542 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3674 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 1.3576 and at 1.3640, a SELL position. In this case both targets should be located at the level of 1.3608.
Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies 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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