Technical analysis of EUR/USD for February 14, 2018

Technical analysis of EUR/USD for February 14, 2018


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When the European market opens, some Economic Data will be released such as German 30-y Bond Auction, Industrial Production m/m, Flash GDP q/q, Italian Prelim GDP q/q, German Final CPI m/m, and German Prelim GDP q/q. The US will also release the Economic Data such as Crude Oil Inventories, Business Inventories m/m, 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 in low to medium volatility during this day.

TODAY’S TECHNICAL LEVEL:

Breakout BUY Level: 1.2413.

Strong Resistance:1.2406.

Original Resistance: 1.2394.

Inner Sell Area: 1.2382.

Target Inner Area: 1.2353.

Inner Buy Area: 1.2324.

Original Support: 1.2312.

Strong Support: 1.2300.

Breakout SELL Level: 1.2293.

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

Source:: Technical analysis of EUR/USD for February 14, 2018

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