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 | 0.32% | 35.3 Pips |  |
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| Week to-date | 0.3% | 32.9 Pips | |
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| August | 1.23% | 133.2 Pips |  |
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Upcoming key events (London Time)
Tue 10:00 AM EUR Retail Trade Turnover (1-mth)
What happened lately
The Euro Area Producer Price Index for June increased to 0.5%, up from the previous figure of -0.2% in May. Source: Eurostat
The Euro Area Producer Price Index (12-month) improved to -3.2% in June from the revised -4.1% (previously -4.2%) in May. Source: Eurostat
The Euro Area sentix Economic Index for the Eurozone in August dropped to -13.9 points from -7.3 points in July. Source: sentix GmbH
What can we expect from EURUSD today?
EURUSD on Monday rose 0.32% to 1.09571. 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 1.10133 with break above could target R2 at 1.10695 or figure level area. While towards the downside, we are looking at daily low of 1.08923 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10090 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.3% over the past few days.
Key levels to watch out:
| R3 | 1.113 |
| R2 | 1.10695 |
| R1 | 1.10133 |
| Daily Pivot | 1.09528 |
| S1 | 1.08966 |
| S2 | 1.08361 |
| S3 | 1.07799 |
