EURUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.22% | -23.8 Pips |  |
||
| Week to-date | 0.08% | 8.6 Pips |  |
||
| November | 3.18% | 336.5 Pips | |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇩🇪 Germany Producer Price Index (12-mth) in October improved to -11% compared to previous figure -14.7% in September 🇩🇪 Germany Producer Price Index (1-mth) in October improved to -0.1% compared to previous figure -0.2% in September Federal Statistical Office (Destatis)
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What can we expect from EURUSD today?
EURUSD on Tuesday dropped -0.22% to 1.09156. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08886 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09651 or trades above daily pivot 1.09268. Break above could target R1 at 1.09539. While to the downside, we are looking at 1.08886 (S1) and daily low of 1.08998 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08998 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:
| R3 | 1.10192 |
| R2 | 1.09921 |
| R1 | 1.09539 |
| Daily Pivot | 1.09268 |
| S1 | 1.08886 |
| S2 | 1.08615 |
| S3 | 1.08233 |
You might be interested in:
Minutes of the Federal Open Market Committee, October 31-November 1, 2023. Federal Reserve
Production in construction up by 0.4% in the euro area and by 0.5% in the EU. Eurostat
