EURUSD continued to consolidate following two days of drops as it traded in a range on Monday. Furthermore, it finished at 1.0878 for a minute loss of 3 pips or -0.03%.
Fundamentally, the European Construction, as well as Services PMIs, published greater than predicted recently, with the elimination of the French Services, that dropped below the estimation.

Today on Tuesday, the investors are suggested to observe the subsequent events:


German IFO – Business Climate 08:00


House Price Index (MoM) 13:00
Consumer Confidence 14:00
Richmond Fed Manufacturing Index 14:00
IBD/TIPP Economic Optimism 14:00

Technical Overview:

The pair extends to trade in downward short-term trend channel, while it got touching to the upper boundary of the pattern in evening trading. Right now, the important resistance is found around 1. 096, whilst the intra day support is found at 1.0884 & 1.0837

Daily Trading Range

1.1350 – 1.0750

Daily Support & Resistance Levels
R3: 1.1031
R2: 1.0960
R1: 1.0921
Pivot Point: 1.0889
S1: 1.0850
S2: 1.0820
S3: 1.0749

Trading Recommendation:
Buy Above : 1.0850
Take Profit:
1st @ 1.0900
Stop Loss @ 1.0820

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.