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 | 0.07% | 8 Pips |  |
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| Week to-date | 0.11% | 11.5 Pips |  |
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| July | 0.11% | 11.5 Pips | |
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Upcoming key events (London Time)
Wed 03:15 PM EUR European Central Bank’s President Christine Lagarde speech
Wed 07:00 PM USD FOMC Meeting Minutes
What happened lately
🇪🇺 Euro Area Core Harmonized Index of Consumer Prices (HICP) (1-mth) in June flash estimate dropped to 0.3% compared to previous figure 0.4% in May Source: Eurostat
🇪🇺 Euro Area Unemployment Rate in May unchanged at 6.4% compared to previous report in April. Source: Eurostat
🇪🇺 Euro Area Harmonized Index of Consumer Prices (HICP) (1-mth) in June flash estimate unchanged at 0.2% compared to previous report in May. Source: Eurostat
🇪🇺 Euro Area Core Harmonised Index of Consumer Prices (HICP) (12-mth) in June flash estimate dropped to 2.8% compared to previous figure 2.9% in May Source: Eurostat
🇪🇺 Euro Area Harmonised Index of Consumer Prices (HICP) (12-mth) in June flash estimate dropped to 2.5% compared to previous figure 2.6% in May Source: Eurostat
🇩🇪 Germany Harmonized Index of Consumer Prices (1-mth) in June flash estimate unchanged at 0.2% compared to previous report in May.
🇩🇪 Germany CPI Inflation Rate (1-mth) in June flash estimate unchanged at 0.1% compared to previous report in May.
What can we expect from EURUSD today?
EURUSD on Tuesday rose 0.07% to 1.07468. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for EURUSD looks bullish as the pair ended higher after Tuesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.07606 with break above could target R2 at 1.07745 or figure level area. While towards the downside, we are looking at daily low of 1.07097 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.07490 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.07999 |
| R2 | 1.07745 |
| R1 | 1.07606 |
| Daily Pivot | 1.07352 |
| S1 | 1.07213 |
| S2 | 1.06959 |
| S3 | 1.0682 |
