EURUSD pair had a highly volatile session on Tuesday as it fell piercingly in the early afternoon but bounced from its lows to conclude at 1.1220, for a small loss of 32 pips or -0.27%. The pair traded in a small daily trading range of 68 pips with a high of 1.1259 and a low of 1.1191.
Fundamentally. the German Import Prices Report evolved in worse than expected as prices plunged by -0,2% in August. The U.S. Flash Service PMI published at 51.9, higher than the consensus estimation, while the Case-Shiller HPI was in line beside expectations at an annualized growth of 5.0%.

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

EUR

German GfK Consumer Confidence Survey 06:00

USD

MBA Mortgage Applications 11:00
Durable Goods Orders 12:30
Durables Ex Transportation 12:30
Fed’s Bullard Speaks 14:10
DOE Cushing OK Crude Inventory 14:30
Technical Overview:

On Wednesday, the EURUSD is still trading below a double top level of 1.1266 & 1.1225. 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

R3: 1.1366
R2: 1.1308
R1: 1.1280
Pivot Point: 1.1250
S1: 1.1221
S2: 1.1191
S3: 1.1133

Trading Recommendation:

– Sell below @ 1.1240
o Take Profit:
 1st @ 1. 1195 / 1.1145
o Stop Loss 1.1270

EURUSD Chart

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