Technical Analysis of EUR/USD for May 04, 2016

Technical Analysis of EUR/USD for May 04, 2016

4 May 2016, 09:38
Roberto Jacobs
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Technical Analysis of EUR/USD for May 04, 2016

When the European market opens, some economic news will be released such as the French 10-y Bond Auction, Retail Sales m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI, Spanish Unemployment Change, French Trade Balance. The US will release economic data too such as Crude Oil Inventories, Factory Orders m/m, the ISM Non-Manufacturing PMI, Final Services PMI, Trade Balance, Prelim Unit Labor Costs q/q, Prelim Nonfarm Productivity q/q, ADP Non-Farm Employment Change. So amid the reports, EUR/USD will move with medium volatility during this day.

1_EURUSD.jpg


TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1557.

Strong Resistance: 1.1550.

Original Resistance: 1.1539.

Inner Sell Area: 1.1528.

Target Inner Area: 1.1501.

Inner Buy Area: 1.1474.

Original Support: 1.1463.

Strong Support: 1.1452.

Breakout SELL Level: 1.1445.


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