Technical analysis of EUR/USD for May 12, 2017
- By Admin
- 3679 views
When the European market opens, some economic data will be released such as Industrial Production m/m, French Prelim Non-Farm Payrolls q/q, German Final CPI m/m, and German Prelim GDP q/q. The US will release the economic data too such as Loan Officer Survey, Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Retail Sales m/m, Core Retail Sales m/m, Core CPI m/m, and CPI m/m. So amid the reports, EUR/USD will move with higher volatility during this day.
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.0916.
Strong Resistance:1.0910.
Original Resistance: 1.0899.
Inner Sell Area: 1.0888.
Target Inner Area: 1.0863.
Inner Buy Area: 1.0838.
Original Support: 1.0827.
Strong Support: 1.0816.
Breakout SELL Level: 1.0810.
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
