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Technical analysis of EUR/USD for June 01, 2015

 

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When the European market opens, some economic data on the Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, Spanish Manufacturing PMI, and German Prelim CPI m/m are due.The US will release data on the ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1008.

Strong Resistance:1.1002.

Original Resistance: 1.0991.

Inner Sell Area: 1.0980.

Target Inner Area: 1.0955.

Inner Buy Area: 1.0930.

Original Support: 1.0919.

Strong Support: 1.0908.

Breakout SELL Level: 1.0902.

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.



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