As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
|Performance after Monday|
|Week to-date||-0.14%||-15.3 Pips|
Upcoming key events (London Time)
Tue 08:55 AM EUR HCOB Manufacturing PMI
Tue 03:00 PM USD ISM Manufacturing PMI
Wed 01:15 PM USD ADP Non-Farm Employment Change
What happened lately
Germany Retail Trade (1-mth) in June dropped to -0.8% compared to previous figure 1.9% (revised from 0.4%)
What can we expect from EURUSD today?
EURUSD on Monday dropped -0.14% to 1.09994. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.0979 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10459 or trades above daily pivot 1.10124. While to the downside, the daily low of 1.09920 and 1.0979 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09920 would indicate selling pressure.
For the week to-date, take note that EURUSD is mixed as compared to prior week.
EURUSD ended month of July trading session up by 0.84% or 92 pips higher.
Key levels to watch out: