• EURUSD edged down after rising earlier in the day.
  • The US dollar index recovered slightly near 92.70.
  • The euro remains under pressure due to downbeat economic data.
The EURUSD pair experienced a slight decline in the Asian session. At the time of the daily analysis of EURUSD September 1, 2021 written by the GIC team, the pair was trading at the level of 1.18060, down 0.02% for the day. The US dollar index (DXY), which is an indicator of the greenback's performance against six major currencies, recovered near 93.00 and managed to limit the EURUSD gains.On the other hand, the euro was heavily weighed down by downbeat economic data, eurozone inflation surged to a 10-year high in August with expectations of further hikes, challenging the European Central Bank's outlook on price growth. Consumer prices rose 3% and surpassed the projections of 37 economists in a Bloomberg survey. Meanwhile, the Consumer Confidence Indicator came in at -5.3 in August, lower than -4.4 in the previous month. European Central Bank (ECB) policymaker Klass Knot hinted that the central bank may start to reduce the pace of the Pandemic Emergency Purchase Program (PEPP) as reported by Reuters. Investors turned their attention to German Retail Sales data, US ADP Employment, and ISM Manufacturing Purchasing Managers' Index (IMP) data to get a picture of trading.

How is the EURUSD technical analysis?

The daily analysis of EURUSD is predicted to still try to be bullish towards R1, R2 and even R3, but if it cannot maintain its rise it will return to the Pivot level or it could be to the level of S1, S2 and even S3, for details can be seen below.
  • Pivot poin is at 1.18155
  • Resistance 1 = 1,18369
  • Resistance 2 = 1,18660
  • Resistance 3 = 1,18874
  • Support 1 = 1,17864
  • Support 2 = 1,17650
  • Support 3 = 1,17359
This the daily analysis of EURUSD September 1, 2021. Keep prioritizing money management and risk management. In addition to analytical articles, there are many other articles that provide information about forex in the GIC Journal. Don't miss the bonuses provided by GIC by participating in the GIC affiliate program and events that you can participate in as well such as the 100% Deposit Bonus.