Technical Analysis of EUR/USD for April 29, 2016

Technical Analysis of EUR/USD for April 29, 2016

29 April 2016, 09:08
Roberto Jacobs

Technical Analysis of EUR/USD for April 29, 2016

When the European market opens, some economic news will be released such as the Unemployment Rate, Italian Prelim CPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, Spanish Flash GDP q/q, French Prelim CPI m/m, French Consumer Spending m/m, German Retail Sales m/m, and French Prelim GDP q/q. The US will release economic data too such as the Treasury Currency Report, Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Personal Spending m/m, Employment Cost Index q/q, and Core PCE Price Index m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.



Breakout BUY Level: 1.1412.

Strong Resistance: 1.1405.

Original Resistance: 1.1394.

Inner Sell Area: 1.1383.

Target Inner Area: 1.1356.

Inner Buy Area: 1.1329.

Original Support: 1.1318.

Strong Support: 1.1307.

Breakout SELL Level: 1.1300.

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