EURUSD on Monday dropped -0.03% to 1.10034. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Monday
Monday-0.03%-3.8 Pips
Week to-date-0.03%-3.8 Pips
August0.06%6.6 Pips

Upcoming key events (London Time)

Tue 07:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)

What happened lately

🇪🇺 Euro Area Sentix Investor Confidence| Aug in August below forecast and improved to -18.9 points compared to previous figure -22.5 points in July
🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth)| Jun in June dropped to -1.7% compared to previous figure 0.7%
🇩🇪 Germany Industrial Production seasonal adjustment. (1-mth)| Jun in June dropped to -1.5% compared to previous figure -0.1% (revised from -0.2%)

EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Monday dropped -0.03% to 1.10034. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09743 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10119 or trades above daily pivot 1.09931. Break above could target R1 at 1.10222. While to the downside, we are looking at 1.09743 (S1) and daily low of 1.09640 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09640 would indicate selling pressure.

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:

No major reports.

Leave a comment

Your email address will not be published.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