Technical analysis of EUR/USD for Nov 16, 2017


When the European market opens, some Economic Data will be released, such as Final Core CPI y/y, Final CPI y/y, and Spanish 10-y Bond Auction. The US will release the Economic Data, too, such as Natural Gas Storage, NAHB Housing Market Index, Industrial Production m/m, Capacity Utilization Rate, Philly Fed Manufacturing Index, Unemployment Claims, and Import Prices m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.


Breakout BUY Level: 1.1838.

Strong Resistance:1.1831.

Original Resistance: 1.181920.

Inner Sell Area: 1.1809.

Target Inner Area: 1.1781.

Inner Buy Area: 1.1753.

Original Support: 1.1742.

Strong Support: 1.1731.

Breakout SELL Level: 1.1724.

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.

The material has been provided by InstaForex Company –

Source:: Technical analysis of EUR/USD for Nov 16, 2017

Won't your trader friends like this?
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply