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:
German GfK Consumer Confidence Survey 06:00
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
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
Pivot Point: 1.1250
– Sell below @ 1.1240
o Take Profit:
1st @ 1. 1195 / 1.1145
o Stop Loss 1.1270