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 | -0.28% | -30.6 Pips |  |
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| Week to-date | 0.15% | 16.3 Pips |  |
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| August | 0.95% | 103.2 Pips | |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
Euro Area retail trade turnover for June decreased to -0.3% from 0.1% in May. Source: Eurostat
Euro Area Retail Trade Turnover (12-mth) in June dropped to -0.3% compared to the previous figure of 0.5%, revised from 0.3% in May. Source: Eurostat
In June, Germany’s factory orders with seasonal adjustment rose by 3.9%, compared to the previous figure of -1.6% in May.
Germany’s unadjusted factory orders for June decreased to -11.8% year-on-year, compared to -8.6% in May.
Germany’s seasonally adjusted factory orders for June increased to 3.9%, up from -1.6% in May.
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 Tuesday dropped -0.28% to 1.09271. Price is above 9-Day EMA while Stochastic is rising.
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 1.08994 with break below could see further selling pressure towards S2 at 1.08716. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.09631 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.09035 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 | 1.10186 |
| R2 | 1.09908 |
| R1 | 1.0959 |
| Daily Pivot | 1.09312 |
| S1 | 1.08994 |
| S2 | 1.08716 |
| S3 | 1.08398 |
