EURUSD on Tuesday dropped -0.01% to 1.09030. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Tuesday
Tuesday-0.01%-1.6 Pips
Week to-date-0.37%-40.6 Pips
August-0.85%-93.8 Pips

Upcoming key events (London Time)

Wed 10:00 AM EUR GDP (seasonally adjusted) (3-mth)
Wed 10:00 AM EUR GDP (seasonally adjusted) (12-mth)
Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

🇺🇸 U.S. Retail Trade Control Group in July rose to 1% compared to previous figure 0.5% (revised from 0.6%) Census Bureau

EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.01% to 1.09030. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08822 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09525 or trades above daily pivot 1.09173. Break above could target R1 at 1.09382. While to the downside, we are looking at 1.08822 (S1) and daily low of 1.08965 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08965 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.37%.

Key levels to watch out:

Daily Pivot1.09173

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Advanced Monthly Sales for Retail and Food Services. Census Bureau

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