• Sun. Jul 14th, 2024

EURUSD on Tuesday dropped -0.22% to 1.09156. Pair in consolidation. What we know.

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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 -0.22% -23.8 Pips
Week to-date 0.08% 8.6 Pips
November 3.18% 336.5 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

 🇩🇪 Germany Producer Price Index (12-mth) in October improved to -11% compared to previous figure -14.7% in September
 🇩🇪 Germany Producer Price Index (1-mth) in October improved to -0.1% compared to previous figure -0.2% in September Federal Statistical Office (Destatis)


What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.22% to 1.09156. 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 1.08886 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09651 or trades above daily pivot 1.09268. Break above could target R1 at 1.09539. While to the downside, we are looking at 1.08886 (S1) and daily low of 1.08998 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08998 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 1.10192
R2 1.09921
R1 1.09539
Daily Pivot 1.09268
S1 1.08886
S2 1.08615
S3 1.08233
On Key

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