The EURUSD had a calm and flat session aimed low trading volume after Friday’s surge. The pair just finished right at the opening rate at 1.1166, for a small loss of 17 pips or -0.15%. The EURUSD traded in a very small daily range of 29 pips, placing a high of 1.1184 and a low of 1.1155. It closed the day just below the Fibonacci retracement level at 1.11.
Economic figures, including the Spanish and the Italian Manufacturing PMIs came well below expectations. Whereas, Eurozone number was in line with the estimated figure, cheers to the slight up beat from German.
Today on Tuesday, the investors are recommended to monitor the following events:
• Spanish Unemployment Change
• Core PCE Price Index m/m
• Personal Spending m/m
Technical Overview:
The pair has closed above 50 period EMA, signaling a buying sentiment of investors in the market. to 30 pips Stop Loss. Currently, the pair has managed to close above 1.1140, a resistance come support level. I expect a pair to target the 61.8% Fibonacci level at 1.12245 before executing a sell position. Further, as earlier in the previous analysis report, I would recommend to enter short only below 1.1230
Previous Analysis Reference: Trade hit Take Profit at 1.1120 (45+ Pips). (29th July, 2016)

Daily Trading Range:
1.1310– 1.0975

Daily Support & Resistance Levels

R3: 1.1395
R2: 1.1270
R1: 1.1218
Pivot Point: 1.1147
S1: 1.1092
S2: 1.1019
S3: 1.0943

Trading Recommendation:

– Sell Limit @ 1.1230
o Take Profit:
 1st @ 1. 1140
o Stop Loss 1.1260

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