EURUSD on Tuesday rose 1.7% to 1.08809. What we know.

EURUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	1.7%	182.2 Pips
Week to-date	1.84%	196.1 Pips
November	2.9%	306.5 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Wed 01:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in October below forecast and dropped to 0.2% compared to previous figure 0.3% in September Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in October below forecast and dropped to 3.2% compared to previous figure 3.7% in September Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (1-mth) in October below forecast and dropped to 0% compared to previous figure 0.4% in September Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in October below forecast and dropped to 4% compared to previous figure 4.1% in September Bureau of Labor Statistics
🇪🇺 Euro Area ZEW Survey – Economic Sentiment in November exceed forecast and rose to 13.8 points compared to previous figure 2.3 points in October ZEW
🇪🇺 Euro Area Employment Change (3-mth) in Q3 preliminary estimate exceed forecast and rose to 0.3% compared to previous figure 0.2% in Q2
🇪🇺 Euro Area GDP (seasonally adjusted) (12-mth) in Q3 preliminary estimate unchanged at 0.1% compared to previous report in Q2. The actual figure is also in line with the forecast Eurostat
🇩🇪 Germany ZEW Indicator of Economic Sentiment in November exceed forecast and rose to 9.8 points compared to previous figure -1.1 points in October ZEW
🇪🇺 Euro Area GDP (seasonally adjusted) (3-mth) in Q3 preliminary estimate unchanged at -0.1% compared to previous report in Q2. The actual figure is also in line with the forecast Eurostat
🇩🇪 Germany ZEW Survey – Economic Situation (Germany) in November exceed forecast and improved to -79.8 points compared to previous figure -79.9 points in October ZEW

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What can we expect from EURUSD today?

EURUSD on Tuesday rose 1.7% to 1.08809. Price is above 9-Day EMA while Stochastic is rising.

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

Looking ahead for the day, immediate upside resistance level is R1 at 1.0948 with break above could target R2 at 1.10152 or figure level area. While towards the downside, we are looking at daily low of 1.06927 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.08875 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 1.84% over the past few days.

Key levels to watch out:

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