Forex

EURUSD on Tuesday dropped -0.4% to 1.07930. What we know.

EURUSD on Tuesday dropped -0.4% to 1.07930. What we know.
EURUSD on Tuesday dropped -0.4% to 1.07930.  What we know.

EURUSD Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.4% -42.9 Pips
Week to-date -0.82% -88.8 Pips
December -0.86% -93.1 Pips

Upcoming key events (London Time)

Wed 10:00 AM EUR Retail Trade Turnover (12-mth)
Thu 10:00 AM EUR GDP (seasonally adjusted) (3-mth)

What happened lately

?? U.S. Job Openings and Labor Turnover Survey (JOLTS) in October below forecast and dropped to 8.733M compared to previous figure 9.35, revised from 9.553M in September Source: Bureau of Labor Statistics
?? U.S. Factory Orders (1-mth) in October exceed forecast and dropped to -3.6% compared to previous figure 2.3, revised from 2.8% in September Source: Census Bureau
?? Euro Area Sentix Investor Confidence in December exceed forecast and improved to -16.8 points compared to previous figure -18.6 points in November

Latest from X (Twitter)


What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.4% to 1.07930. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 1.07647 with break below could see further selling pressure towards S2 at 1.07365. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.08474 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.07778 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.82%.

Key levels to watch out:

R3 1.09039
R2 1.08757
R1 1.08343
Daily Pivot 1.08061
S1 1.07647
S2 1.07365
S3 1.06951

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