The release of the US Non Farm Payrolls and US Unemployment Rate reports, which showed a decrease in the Unemployment Rate figures of 7.2% more than expected 7.3%. Now, EUR/USD is running side by side with the US Stock indices $INDU and the Gold (XAU/USD); EUR/USD now is in a Bullish situation. There is a possibility of a small retrachement for today especially in London or during the US session.

TODAY's  TECHNICAL  LEVELS:  

Breakout BUY level: 1.3847.

Strong Resistance: 1.3838.

Original Resistance: 1.3825.

Inner Sell Area: 1.3812.

Target Inner Area: 1.3779.

Inner Buy Area: 1.3746.

Original Support: 1.3733.

Strong Support: 1.3720.

Breakout SELL level: 1.3711.  

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3733 and 1.3825. The rate is accompanied by strong support at 1.3720 and by 1.3838 as strong resistance.

If EUR/USD breaks out and closes below 1.3711 today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3847, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3746 and at 1.3812, a SELL position. In this case both targets should be located at the level of 1.3779.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://www.ifxteam.com

Email : Arief.jakarta@indo.instaforex.com

blog.mt5.com/arief

http://www.mt5.com/forex_analysis_award/profile/index/arief

Disclaimer:

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