When the European market opens, some economic news will be released such as German Ifo Business Climate, Spanish 10-y Bond Auction, including the ECB President Mario Draghi speaks.The US will release the economic data too such as the Core Durable Goods Orders m/m, Unemployment Claims, Natural Gas Storage, Durable Goods Orders m/m.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3885.

Strong Resistance:1.3876.

Original Resistance: 1.3863.

Inner Sell Area: 1.3850.

Target Inner Area: 1.3817.

Inner Buy Area: 1.3784.

Original Support: 1.3771.

Strong Support: 1.3758.

Breakout SELL Level: 1.3749.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3771 and 1.3863. The rate is accompanied by strong support at 1.3758 and by 1.3876 as strong resistance.

If EUR/USD breaks out and closes below the 1.3749 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3885 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3784 and at 1.3850, a SELL position. In this case both targets should be placed at the level of 1.3817.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://ifxbuy.com

For more analysis go to: blog.mt5.com/arief