🇪🇺 🇺🇸 EURUSD on Tuesday dropped -0.27% to 1.08807. Pair in consolidation. What we know.

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

EURUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.27%	-29.3 Pips
Week to-date	-0.24%	-26 Pips
July	-0.32%	-35.1 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Meeting Minutes
Thu 01:15 PM USD ADP Non-Farm Employment Change
Thu 01:30 PM USD Initial Unemployment Insurance Claims
Thu 03:00 PM USD ISM Services PMI

What happened lately

Germany Trade Balance seasonal adjustment. in May below forecast and dropped to 14.4€ compared to previous figure 18.4€ in April

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.27% to 1.08807. 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 1.0865 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09163 or trades above daily pivot 1.08907. While to the downside, the daily low of 1.08750 and 1.0865 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08750 would indicate selling pressure.

For the week to-date, take note that EURUSD is mixed as compared to prior week.

Key levels to watch out: