Technical Analysis of EUR/USD for May 11, 2016

Technical Analysis of EUR/USD for May 11, 2016

11 May 2016, 12:38
Roberto Jacobs
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Technical Analysis of EUR/USD for May 11, 2016


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When the European market opens, no economic news will be released from the euro zone today. However, the US will release several economic reports such as Federal Budget Balance, 10-y Bond Auction, and Crude Oil Inventories. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.1429.

Strong Resistance:1.1422.

Original Resistance: 1.1411.

Inner Sell Area: 1.1400.

Target Inner Area: 1.1373.

Inner Buy Area: 1.1346.

Original Support: 1.1335.

Strong Support: 1.1324.

Breakout SELL Level: 1.1317.


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