• Fri. Sep 22nd, 2023

EURUSD on Tuesday dropped -0.05% to 1.12300. Pair in consolidation. What we know.

Dear ,

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 -0.05% -5.4 Pips
Week to-date 0.03% 3.6 Pips
July 2.96% 322.6 Pips

Upcoming key events (London Time)

  Thu 01:30 PM USD Initial Unemployment Insurance Claims

What happened lately

 🇺🇸 U.S. Industrial Production (1-mth) in June unchanged at -0.5% compared to previous revised report
 🇺🇸 U.S. Retail Trade Control Group in June exceed forecast and rose to 0.6% compared to previous figure 0.3, revised from 0.2% in May
 🇺🇸 U.S. New York Empire State Manufacturing Index in July dropped to 1.1 points compared to previous figure 6.6 points in June

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.05% to 1.12300. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.12001 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.12758 or trades above daily pivot 1.12379. While to the downside, the daily low of 1.12080 and 1.12001 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.12080 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 1.13357
R2 1.13057
R1 1.12679
Daily Pivot 1.12379
S1 1.12001
S2 1.11701
S3 1.11323

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