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EUR/USD Technical Levels and Trading Recommendations for July 11, 2012


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When the European market opens, economic data on Retail Sales m/m, Italian Industrial Production m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI is due. The US will unveil data about Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, Trade Balance, and ADP Non-Farm Employment Change. So amid the reports, EUR/USD will move low to medium volatility during this day.


Breakout BUY Level: 1.0937.

Strong Resistance:1.0931.

Original Resistance: 1.0920.

Inner Sell Area: 1.0909.

Target Inner Area: 1.0884.

Inner Buy Area: 1.0859.

Original Support: 1.0848.

Strong Support: 1.0837.

Breakout SELL Level: 1.0831.

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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Number of comments: 1
  • Martin
    • #

    One more crazy trading day. Trading the euro, right now is more like gambling - too risky and no guarantees.

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