05.01.201803:25 Forex Analysis & Reviews: Technical analysis of EUR/USD for Jan 05, 2018

Long-term review

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When the European market opens, some economic data will be released such as Italian Prelim CPI m/m, PPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, and Retail PMI, as well as French Prelim CPI m/m and German Retail Sales m/m. The US will publish some macroeconomic reports too: Factory Orders m/m, ISM Non-Manufacturing PMI, Trade Balance, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. Amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.2137.

Strong Resistance:1.2130.

Original Resistance: 1.2118.

Inner Sell Area: 1.2106.

Target Inner Area: 1.2078.

Inner Buy Area: 1.2050.

Original Support: 1.2038.

Strong Support: 1.2026.

Breakout SELL Level: 1.2019.

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