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 | -0.46% | -48.8 Pips |  |
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| Week to-date | -0.46% | -48.8 Pips | |
||
| September | -2.28% | -247.1 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇩🇪 Germany ifo Business Climate in September dropped to 85.7 points compared to previous figure 85.8 points (revised from 85.7 points) ifo Institute
🇩🇪 Germany ifo Expectations in September exceed forecast and rose to 82.9 points compared to previous figure 82.6 points in August ifo Institute
🇩🇪 Germany ifo Current Assessment in September exceed forecast and dropped to 88.7 points compared to previous figure 89 points in August ifo Institute
What can we expect from EURUSD today?
EURUSD on Monday dropped -0.46% to 1.05944. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for EURUSD looks bearish as the pair posted lower in Monday trading session.
Looking ahead for the day, immediate support level is at S1 1.05613 with break below could see further selling pressure towards S2 at 1.05282. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.06555 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.05753 would indicate selling pressure.
For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.46%.
Key levels to watch out:
| R3 | 1.07217 |
| R2 | 1.06886 |
| R1 | 1.06415 |
| Daily Pivot | 1.06084 |
| S1 | 1.05613 |
| S2 | 1.05282 |
| S3 | 1.04811 |
