XtreamForex

Daily EUR USD Technical Analysis 1st December, 2016

 

Daily EUR USD Technical Analysis 1st December, 2016

EUR USD Technical Analysis 1st December, 2016

Technical Analysis Overview

Prev. Close      1.0591
Open               1.0591
Day’s Range   1.0586 – 1.0604
52 wk Range   1.0526 – 1.1616
1-Year Return – 0.36%

Technical Support and Resistance

After 5 days of unbroken improvement EUR market had a big fall yesterday. Market was volatile after OPEC meeting, as big three oil producers has agreed to cut production. Expected market trading range for today 1.0586 – 1.0604.

In terms of EUR USD Technical analysis the EUR/USD pair will find its immediate support at 1.0577. If, market breaks the first support then it will go for the following support to test. Following supports are 1.0566 and 1.0381. On the other side the market has immediate resistance 1.0629. If, market breaks the primary resistance level then, market will go for the new resistance level 1.0700 and 1.0753.

Along with technical analysis following economic event is very important to analyze the financial market properly.

Upcoming Important Economic News in EUROPE: (GMT +5.30)

  1. 1:45pm Spanish Manufacturing PMI
  2. 2:15pm Italian Manufacturing PMI
  3. 2:20p    French Final Manufacturing PMI
  4. 2:25pm German Final Manufacturing PMI
  5. 2:30pm Final Manufacturing PMI
  6. 3:30pm Unemployment Rate