Technical analysis of EUR/USD for Jan 25, 2018

Source: Forex Analysis

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When the European market opens, some economic data will be released such as Belgian NBB Business Climate, Minimum Bid Rate, German Ifo Business Climate, Spanish Unemployment Rate, and German GfK Consumer Climate. The US will also release a batch of economic data such as Natural Gas Storage, CB Leading Index m/m, New Home Sales, Prelim Wholesale Inventories m/m, Goods Trade Balance, and Unemployment Claims. So amid the reports, EUR/USD will move with medium volatility during this day.

TODAY’S TECHNICAL LEVELS:

Breakout BUY Level: 1.2457.

Strong Resistance:1.2450.

Original Resistance: 1.2438.

Inner Sell Area: 1.2426.

Target Inner Area: 1.2397.

Inner Buy Area: 1.2368.

Original Support: 1.2356.

Strong Support: 1.2344.

Breakout SELL Level: 1.2337.

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