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 | 0.38% | 41.9 Pips |  |
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| Week to-date | 0.94% | 103.4 Pips | |
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| August | 2.81% | 304.5 Pips |  |
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Upcoming key events (London Time)
Wed 07:00 PM USD FOMC Meeting Minutes
What happened lately
The Euro Area Harmonized Index of Consumer Prices (HICP) (1-mth) remained unchanged at 0% in July compared to the previous report in June. Source: Eurostat
Euro Area Core Harmonised Index of Consumer Prices (HICP) (12-mth) remained unchanged at 2.9% in July compared to the previous report in June. Source: Eurostat
The Euro Area Core Harmonized Index of Consumer Prices (HICP) for July remained unchanged at -0.2% compared to the previous report in June. Source: Eurostat
Germany’s Producer Price Index (12-month) in July improved to -0.8%, compared to the previous figure of -1.6% in June.
Germany’s Producer Price Index (1-mth) remained unchanged at 0.2% in July compared to the previous report in June. Source: Federal Statistical Office (Destatis)
Germany’s Producer Price Index (12-mth) improved to -0.8% in July from -1.6% in June.
What can we expect from EURUSD today?
EURUSD on Tuesday rose 0.38% to 1.11284. 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 1.11487 with break above could target R2 at 1.11689 or figure level area. While towards the downside, we are looking at daily low of 1.10716 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.11304 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.94% over the past few days.
Key levels to watch out:
| R3 | 1.12075 |
| R2 | 1.11689 |
| R1 | 1.11487 |
| Daily Pivot | 1.11101 |
| S1 | 1.10899 |
| S2 | 1.10513 |
| S3 | 1.10311 |
