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    Technical analysis of EUR/USD for March 16, 2016 2016-03-16

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    When the European market opens, some economic news will be released such as the German 10-y Bond Auction. The US will release economic data too such as the Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Crude Oil Inventories, Industrial Production m/m, Capacity Utilization Rate, Housing Starts, Core CPI m/m, CPI m/m, and Building Permits. So amid the reports, EUR/USD will move with medium to high volatility during this day.

    TODAY'S TECHNICAL LEVELS:

    Breakout BUY Level: 1.1161.

    Strong Resistance: 1.1155.

    Original Resistance: 1.1144.

    Inner Sell Area: 1.1133.

    Target Inner Area: 1.1107.

    Inner Buy Area: 1.1081.

    Original Support: 1.1070.

    Strong Support: 1.1059.

    Breakout SELL Level: 1.1053.

    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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