2018-09-17
In Asia, Japan today will not release any economic data. However, the US will release a macroeconomic report, Empire State Manufacturing Index. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Resistance. 3: 112.64
Resistance. 2: 112.44
Resistance. 1: 112.24
Support. 1: 111.90
Support. 2: 111.70
Support. 3: 111.50
Disclaimer: Trading Forex (foreign exchange) on margin carries a highlevel of risk, and may not be suitable for all Traders or 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 someor all of your initial investment and therefore you should not investmoney 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.
Technical analysis: Intraday levels for EUR/USD, Sept 17, 2018
2018-09-17
When the European market opens, some economic data will be released such as German Buba Monthly Report, Italian Trade Balance, Final Core CPI y/y, and Final CPI y/y. The US is due to release a macroeconomic report, Empire State Manufacturing Index. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1680
Strong Resistance: 1.1673
Original Resistance: 1.1662
Inner Sell Area: 1.1651
Target Inner Area: 1.1623
Inner Buy Area: 1.1595
Original Support: 1.1584
Strong Support: 1.1573
Breakout SELL Level: 1.1566
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or 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.
Technical analysis of EUR/USD for September 17, 2018
2018-09-17
EUR/USD has pulled back towards its support at 1.16-1.1630. EUR/USD is most probably back testing the break out area and should bounce from current levels. I'm bullish as long as we trade above 1.16.
Red line - broken resistance
Dark blue line - short-term support
Green line- Medium-term support
Blue dots - medium strength support
Orange dots - medium strength resistance
EUR/USD should bounce from current levels. I'm bullish here. I expect EUR/USD to move to new highs and break above the double top at 1.1720-1.1740 area for a move towards 1.19. The bearish Head and shoulders pattern has been canceled as price has moved above the right hand shoulder. However a break below 1.1520-1.15 will open the way for a move towards 1.14-1.1350.
Dark blue line - short-term support
Green line- Medium-term support
Blue dots - medium strength support
Orange dots - medium strength resistance
EUR/USD should bounce from current levels. I'm bullish here. I expect EUR/USD to move to new highs and break above the double top at 1.1720-1.1740 area for a move towards 1.19. The bearish Head and shoulders pattern has been canceled as price has moved above the right hand shoulder. However a break below 1.1520-1.15 will open the way for a move towards 1.14-1.1350.
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