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 | 0.13% | 13.6 Pips |  |
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| Week to-date | -0.27% | -29.4 Pips |  |
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| February | -0.58% | -62.5 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
Euro Area Retail Trade Turnover (12-mth) in December dropped to -0.8% compared to previous figure -0.4, revised from -1.1% in November Source: Eurostat
Germany Factory Orders n.seasonal adjustment. (12-mth) in December rose to 2.7% compared to previous figure -4.7% (revised from -4.4%)
Euro Area Producer Price Index (12-mth) in December dropped to -10.6% compared to previous figure -8.8% in November
Euro Area Sentix Investor Confidence in February improved to -12.9 points compared to previous figure -15.8 points in January
What can we expect from EURUSD today?
EURUSD on Tuesday rose 0.13% to 1.07555. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.07312 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07623 or trades above daily pivot 1.07467. Break above could target R1 at 1.07711. While to the downside, we are looking at 1.07312 (S1) and daily low of 1.07224 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07623 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.27%.
Key levels to watch out:
| R3 | 1.0811 |
| R2 | 1.07866 |
| R1 | 1.07711 |
| Daily Pivot | 1.07467 |
| S1 | 1.07312 |
| S2 | 1.07068 |
| S3 | 1.06913 |
