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 | -0.4% | -43.7 Pips |  |
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| Week to-date | -0.44% | -48.5 Pips | |
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| July | 1.07% | 115.4 Pips |  |
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Upcoming key events (London Time)
Thu 01:30 PM USD GDP annual rate
What happened lately
🇪🇺 Euro Area Consumer Confidence in July’s flash estimate improved to -13 points, up from -14 points in June. Source: DG ECFIN
What can we expect from EURUSD today?
EURUSD on Tuesday dropped -0.4% to 1.08507. Price is below 9-Day EMA while Stochastic is falling.
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 1.08306 with break below could see further selling pressure towards S2 at 1.08105. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.08968 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08436 would indicate selling pressure.
For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.44%.
Key levels to watch out:
| R3 | 1.0937 |
| R2 | 1.09169 |
| R1 | 1.08838 |
| Daily Pivot | 1.08637 |
| S1 | 1.08306 |
| S2 | 1.08105 |
| S3 | 1.07774 |
