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 | -0.18% | -19.1 Pips |  |
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| Week to-date | -0.1% | -10.9 Pips |  |
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| July | 0.74% | 79.8 Pips |  |
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Upcoming key events (London Time)
Wed 03:00 PM USD Federal Reserve Chair Jerome Powell testifies
Thu 01:30 PM USD CPI Inflation Rate (1-mth)
Thu 01:30 PM USD CPI Inflation Rate (12-mth)
What happened lately
🇪🇺 Euro Area sentix Economic Index for the Eurozone in July dropped to -7.3 points compared to previous figure 0.3 points in June Source: sentix GmbH
What can we expect from EURUSD today?
EURUSD on Tuesday dropped -0.18% to 1.08151. Price is above 9-Day EMA while Stochastic is rising in overbought 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 S1 1.08023 with break below could see further selling pressure towards S2 at 1.07895. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.08333 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08050 would indicate selling pressure.
For the week to-date, take note that EURUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.08589 |
| R2 | 1.08461 |
| R1 | 1.08306 |
| Daily Pivot | 1.08178 |
| S1 | 1.08023 |
| S2 | 1.07895 |
| S3 | 1.0774 |
