FX.co ★ Technical analysis of EUR/USD for December 16, 2014

When the European market opens, lots of major economic reports will be released such as Trade Balance, ZEW Economic Sentiment, German ZEW Economic Sentiment, Italian Trade Balance, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI. The US will release the economic data too such as the Flash Manufacturing PMI, Housing Starts, and Building Permits. So, in this context, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2506.

Strong Resistance:1.2498.

Original Resistance: 1.2486.

Inner Sell Area: 1.2474.

Target Inner Area: 1.2444.

Inner Buy Area: 1.2414.

Original Support: 1.2402.

Strong Support: 1.2390.

Breakout SELL Level: 1.2382.

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