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    Technical analysis of EUR/USD for February 12, 2016 2016-02-12

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    When the European market opens, some economic news on the Industrial Production m/m, Flash GDP q/q, Italian Prelim GDP q/q, French Prelim Non-Farm Payrolls q/q, German WPI m/m, German Final CPI m/m, and German Prelim GDP q/q is due to be released. The US will unveil economic data on the Prelim UoM Inflation Expectations, Business Inventories m/m, Prelim UoM Consumer Sentiment, Import Prices m/m, Retail Sales m/m, and Core Retail Sales m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

    TODAY'S TECHNICAL LEVEL:

    Breakout BUY Level: 1.1365.

    Strong Resistance:1.1358.

    Original Resistance: 1.1347.

    Inner Sell Area: 1.1336.

    Target Inner Area: 1.1309.

    Inner Buy Area: 1.1282.

    Original Support: 1.1271.

    Strong Support: 1.1260.

    Breakout SELL Level: 1.1253.

    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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    • avatar-1106
      • #

      US economic data put pressure on the pair, low volatility offers a possibility to wait for a better moment.


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