EURUSD pair had a choppy trading for a day and it soared to trade at 1.2777. Initially, the EURUSD bounced higher in initial trading but dragged back towards the end of the session around 1.1247 to close.
Fundamentally. Sales of newly constructed homes slid less than expected in August, leading to some stabilization in a usually choppy exchange as demand stays robust. New home sales ran at a 609,000 seasonally adjusted yearly rate. That was 20.6% above compared to a year before.

Today on Tuesday, the investors are recommended to monitor the following events:


German Import Prices m/m
M3 Money Supply y/y
Private Loans y/y


CB Consumer Confidence
FOMC Member Fischer Speaks

Technical Overview:

EURUSD is still consolidating below a double top level of 1.1266 and breakage of resistance level is likely to target 1.134 Preceding that interval, the further resistance level is found at 1.136, while a support is found at 1.1185, and 1.1025.

Daily Trading Range:

1.1325 – 1.1025

Daily Support & Resistance Levels

S 1.1191 1.1214 1.1228
Pivot: 1.125
R: 1.1273 1.1287 1.1309

Trading Recommendation:

– Buy above @ 1.1285
o Take Profit:
 1st @ 1. 1346
o Stop Loss 1.1230

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