EURUSD on Tuesday rose 0.11% to 1.10118. What we know.
|Performance after Tuesday|
|Week to-date||0.44%||47.8 Pips|
Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (1-mth)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (1-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (12-mth)
Thu 01:30 PM USD Producer Price Index excluding Food and Energy sectors (12-mth)
What happened lately
🇩🇪 Germany ZEW Indicator of Economic Sentiment in July exceed forecast and dropped to -14.7 points compared to previous figure -8.5 points in June ZEW
🇪🇺 Euro Area Sentix Investor Confidence in July below forecast and dropped to -22.5 points compared to previous figure -17 points in June
What can we expect from EURUSD today?
EURUSD on Tuesday rose 0.11% to 1.10118. 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 1.10341 with break above could target R2 at 1.10563 or figure level area. While towards the downside, we are looking at daily low of 1.09760 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10273 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 0.44% over the past few days.
Key levels to watch out:
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