EURUSD on Tuesday rose 0.11% to 1.10089. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Tuesday
Tuesday0.11%12.1 Pips
Week to-date-0.05%-5.8 Pips
August0.11%12.1 Pips

Upcoming key events (London Time)

Wed 01:15 PM USD ADP Non-Farm Employment Change
Thu 08:55 AM EUR HCOB Composite PMI
Thu 08:55 AM EUR HCOB Services PMI
Thu 09:00 AM EUR HCOB Eurozone Composite PMI
Thu 03:00 PM USD ISM Services PMI

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in June dropped to 9.582M compared to previous figure 9.616M (revised from 9.824M)
🇪🇺 Euro Area Unemployment Rate in June unchanged at 6.4% compared to previous report in May. Eurostat
🇩🇪 Germany Unemployment Change in June below forecast and dropped to -4K compared to previous figure 28K in May Destatis
🇩🇪 Germany Retail Trade (1-mth) in June dropped to -0.8% compared to previous figure 1.9% (revised from 0.4%) Destatis

EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesday rose 0.11% to 1.10089. 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 1.09668 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10195 or trades above daily pivot 1.09931. Break above could target R1 at 1.10353. While to the downside, we are looking at 1.09668 (S1) and daily low of 1.09510 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.10195 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:

Daily Pivot1.09931

You might be interested in:

Euro area annual inflation down to 5.3%. Eurostat
GDP up by 0.3% in the euro area and stable in the EU. Eurostat
Gross Domestic Product for Puerto Rico, 2021. Bureau of Economic Analysis
Inflation rate in July 2023 expected to be +6.2%. Statistisches Bundesamt (Destatis)
Gross domestic product stagnates in the second quarter of 2023. Statistisches Bundesamt (Destatis)

Leave a comment

Your email address will not be published. Required fields are marked *