• Thu. Jun 13th, 2024

🇪🇺 🇺🇸 EURUSD on Monday dropped -0.03% to 1.10034. Pair in consolidation. What we know.

market friday

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Dear ,

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

EURUSD Analysis

Performance after Monday
Period Pct Chg Momentum
Monday -0.03% -3.8 Pips
Week to-date -0.03% -3.8 Pips
August 0.06% 6.6 Pips

Upcoming key events (London Time)

  Tue 07:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)

What happened lately

 🇪🇺 Euro Area Sentix Investor Confidence| Aug in August below forecast and improved to -18.9 points compared to previous figure -22.5 points in July
 🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth)| Jun in June dropped to -1.7% compared to previous figure 0.7%
 🇩🇪 Germany Industrial Production seasonal adjustment. (1-mth)| Jun in June dropped to -1.5% compared to previous figure -0.1% (revised from -0.2%)

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Monday dropped -0.03% to 1.10034. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09743 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10119 or trades above daily pivot 1.09931. While to the downside, the daily low of 1.09640 and 1.09743 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09640 would indicate selling pressure.

For the week to-date, take note that EURUSD is mixed as compared to prior week.

Key levels to watch out:

R3 1.10701
R2 1.1041
R1 1.10222
Daily Pivot 1.09931
S1 1.09743
S2 1.09452
S3 1.09264
On Key

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