Hope you guys enjoyed the previous trade in EURUSD as we hit 50 pips take profit.
On Tuesday, the EURUSD rose to trade at 1.0888 as the Euro as a single currency rose on greater than anticipated German Business Climate values, although, the Greenback bent toward it peer currency pairs on decreasing consumer confidence figures. The pair traded in a thin daily range of 54 pips with a high of 1.0904 and a low of 1.0850. Overall, it added only 13 pips to an opening price of 1.0874.
Today on Tuesday, the investors are suggested to observe the subsequent events:
• GfK German Consumer Climate
• German Import Prices m/m
• Italian Retail Sales m/m
• Goods Trade Balance
• Prelim Wholesale Inventories m/m
• Flash Services PMI
• New Home Sales
EURUSD pair is likely to target 1.0966 before additional selling the pair. Right now, the strong resistance is seen around 1. 096, while the intra-day support prevails at 1.0884 and 1.0837.
Daily Trading Range
1.1350 – 1.0750
Daily Support & Resistance Levels
Pivot Point: 1.0889
Buy Above : 1.0850
1st @ 1.0900 (Achieved)
Stop Loss @ 1.0820