Technical analysis of EUR/USD for Nov 07, 2017

When the European market opens, some Economic Data will be released, such as ECOFIN Meetings, Retail Sales m/m, Retail PMI, Italian Retail Sales m/m, French Gov Budget Balance, and German Industrial Production m/m. The US will release the Economic Data, too, such as Consumer Credit m/m, JOLTS Job Openings, IBD/TIPP Economic Optimism, and Mortgage Delinquencies, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY’S TECHNICAL LEVEL:

Breakout BUY Level: 1.1669.

Strong Resistance:1.1662.

Original Resistance: 1.1651.

Inner Sell Area: 1.1640.

Target Inner Area: 1.1612.

Inner Buy Area: 1.1584.

Original Support: 1.1573.

Strong Support: 1.1562.

Breakout SELL Level: 1.1555.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all 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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