EURUSD Analysis

Performance after Monday
Period	Pct	Chg	Momentum
Monday	0.49%	52.1 Pips
Week to-date	0.49%	52.1 Pips
October	0.39%	41.7 Pips

Upcoming key events (London Time)

Tue 07:00 AM EUR Retail Trade Turnover (12-mth)
Tue 10:00 AM EUR GDP (seasonally adjusted) (3-mth)
Tue 10:00 AM EUR GDP (seasonally adjusted) (12-mth)
Tue 10:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 06:00 PM USD FOMC Monetary Policy Statement

What happened lately

🇩🇪 Germany Harmonised Index of Consumer Prices (HICP) (12-mth) in October preliminary estimate below forecast and dropped to 3% compared to previous figure 4.3% in September Destatis
🇩🇪 Germany CPI Inflation Rate (12-mth) in October preliminary estimate below forecast and dropped to 3.8% compared to previous figure 4.5% in September
🇩🇪 Germany Harmonized Index of Consumer Prices (1-mth) in October preliminary estimate below forecast and dropped to -0.2% compared to previous figure 0.2% in September
🇩🇪 Germany CPI Inflation Rate (1-mth) in October preliminary estimate below forecast and dropped to 0% compared to previous figure 0.3% in September
🇪🇺 Euro Area Business Climate (BCI) in October improved to -0.33 points compared to previous figure -0.36 points in September European Commission
🇩🇪 Germany GDP (12-mth) in Q3 preliminary estimate below forecast and dropped to -0.3% compared to previous figure -0.2% in Q2 Federal Statistical Office (Destatis)

What can we expect from EURUSD today?

EURUSD on Monday rose 0.49% to 1.06126. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks bullish as the pair ended higher after Monday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.06429 with break above could target R2 at 1.06731 or figure level area. While towards the downside, we are looking at daily low of 1.05468 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.06251 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:

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Luis de Guindos: The euro area economy and our monetary policy stance. European Central Bank