FX.co ★ Technical analysis of EUR/USD for April 11, 2014

When the European market opens, some economic news will be released such as German Final CPI m/m, 30-y Bond Auction.The US will release the economic data too such as the PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3954.

Strong Resistance:1.3945.

Original Resistance: 1.3932.

Inner Sell Area: 1.3919.

Target Inner Area: 1.3886.

Inner Buy Area: 1.3853.

Original Support: 1.3840.

Strong Support: 1.3827.

Breakout SELL Level: 1.3818.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3840 and 1.3932. The rate is accompanied by strong support at 1.3827 and by 1.3945 as strong resistance.

If EUR/USD breaks out and closes below the 1.3818 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3954 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 1.3853 and at 1.3919, a SELL position. In this case both targets should be placed at the level of 1.3886.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

https://instaforex.com

For more analysis go to: blog.mt5.com/arief

Disclaimer:

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