As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
Upcoming key events (London Time)
Thu 01:30 PM USD Initial Unemployment Insurance Claims
What happened lately
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
EURUSD Chart by TradingView
What can we expect from EURUSD today?
EURUSD on Tuesday dropped -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: