Dear ,
As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
EURUSD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | 0.09% | 10.2 Pips |  |
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| Week to-date | 0.12% | 12.6 Pips |  |
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| August | 1% | 108.1 Pips | |
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Upcoming key events (London Time)
Tue 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Wed 10:00 AM EUR GDP (seasonally adjusted) (3-mth)
Wed 01:30 PM USD CPI Inflation Rate (1-mth)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
What happened lately
The U.S. Monthly Budget Statement in July dropped to -$244 billion compared to -$66 billion in June. Source: Bureau of the Fiscal Service
What can we expect from EURUSD today?
EURUSD on Monday rose 0.09% to 1.09320. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for EURUSD looks bullish as the pair ended higher after Monday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.09439 with break above could target R2 at 1.09557 or figure level area. While towards the downside, we are looking at daily low of 1.09114 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09395 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.0972 |
| R2 | 1.09557 |
| R1 | 1.09439 |
| Daily Pivot | 1.09276 |
| S1 | 1.09158 |
| S2 | 1.08995 |
| S3 | 1.08877 |
