FX.co ★ Technical analysis of EUR/USD for April 22, 2014

When the European market opens, some economic news will be released such as the Consumer Confidence.The US will release the economic data too such as the HPI m/m, Existing Home Sales, Richmond Manufacturing Index, so amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3859.

Strong Resistance:1.3850.

Original Resistance: 1.3837.

Inner Sell Area: 1.3824.

Target Inner Area: 1.3791.

Inner Buy Area: 1.3758.

Original Support: 1.3745.

Strong Support: 1.3732.

Breakout SELL Level: 1.3723.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3745 and 1.3837. The rate is accompanied by strong support at 1.3732 and by 1.3850 as strong resistance.

If EUR/USD breaks out and closes below the 1.3723 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3859 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 1.3758 and at 1.3824, a SELL position. In this case both targets should be placed at the level of 1.3791.

Best regards,

Arief Makmur

Official Analyst of InstaForexGroup

InstaForex Group

https://instaforex.com

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

Disclaimer:

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