When the European market opens, the economic calendar contains no economic data from the eurozone. However, the US is due to release a few economic reports such as TIC Long-Term Purchases and NAHB Housing Market Index. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Breakout BUY Level: 1.1725

Strong Resistance: 1.1718

Original Resistance: 1.1707

Inner Sell Area: 1.1696

Target Inner Area: 1.1668

Inner Buy Area: 1.1640

Original Support: 1.1629

Strong Support: 1.1618

Breakout SELL Level: 1.1611.

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.