• Wed. Sep 27th, 2023

๐Ÿ‡ช๐Ÿ‡บ ๐Ÿ‡บ๐Ÿ‡ธ EURUSD on Tuesday dropped -0.44% to 1.09548. What we know.

Dearย ,

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 -0.44% -48.1 Pips
Week to-date -0.48% -52.4 Pips
August -0.38% -42 Pips

Upcoming key events (London Time)

ย ย Thu 01:30 PM USD Initial Unemployment Insurance Claims
ย ย Thu 01:30 PM USD CPI Inflation Rate (1-mth)
ย ย Thu 01:30 PM USD CPI Inflation Rate (12-mth)

What happened lately

ย ๐Ÿ‡ช๐Ÿ‡บย Euro Area Sentix Investor Confidence| Aug in August below forecast and improved to -18.9 points compared to previous figure -22.5 points in July
ย ๐Ÿ‡ฉ๐Ÿ‡ชย Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth)| Jun in June dropped to -1.7% compared to previous figure 0.7%
ย ๐Ÿ‡ฉ๐Ÿ‡ชย Germany Industrial Production seasonal adjustment. (1-mth)| Jun in June dropped to -1.5% compared to previous figure -0.1% (revised from -0.2%)

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesdayย droppedย -0.44% to 1.09548. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at 1.09182 (S1) with break below could see further selling pressure towards 1.08815 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.10111 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.09280 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:

R3 1.10844
R2 1.10477
R1 1.10013
Daily Pivot 1.09646
S1 1.09182
S2 1.08815
S3 1.08351

Leave a Reply

Your email address will not be published. Required fields are marked *