Technical analysis of EUR/USD for March 09, 2018

When the European market opens, some economic data will be released such as the French Industrial Production m/m, the French Gov Budget Balance, the German Trade Balance, and the German Industrial Production m/m. Meanwhile, the US will also deliver some reports such as the Final Wholesale Inventories m/m, the Unemployment Rate, the Non-Farm Employment Change, and the Average Hourly Earnings m/m. So amid the reports, EUR/USD will move in a medium to high volatility during this day.

TODAY’S TECHNICAL LEVELS:

Breakout BUY Level: 1.2369.

Strong Resistance:1.2362.

Original Resistance: 1.2350.

Inner Sell Area: 1.2338.

Target Inner Area: 1.2309.

Inner Buy Area: 1.2280.

Original Support: 1.2268.

Strong Support: 1.2256.

Breakout SELL Level: 1.2249.

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.

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