• Fri. Sep 29th, 2023

๐Ÿ‡ช๐Ÿ‡บ ๐Ÿ‡บ๐Ÿ‡ธ EURUSD on Monday dropped -0.14% to 1.09994. End July up by 0.84% or 92 pips higher. Pair in consolidation. What we know.

Dearย ,

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 -0.14% -15.3 Pips
Week to-date -0.14% -15.3 Pips
July 0.84% 92 Pips

Upcoming key events (London Time)

ย ย Tue 08:55 AM EUR HCOB Manufacturing PMI
ย ย Tue 03:00 PM USD ISM Manufacturing PMI
ย ย Wed 01:15 PM USD ADP Non-Farm Employment Change

What happened lately

ย ๐Ÿ‡ฉ๐Ÿ‡ชย Germany Retail Trade (1-mth) in June dropped to -0.8% compared to previous figure 1.9% (revised from 0.4%)

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Mondayย droppedย -0.14% to 1.09994. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.0979 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10459 or trades above daily pivot 1.10124. While to the downside, the daily low of 1.09920 and 1.0979 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09920 would indicate selling pressure.

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

EURUSD ended month of July trading session up by 0.84% or 92 pips higher.

Key levels to watch out:

R3 1.10868
R2 1.10663
R1 1.10329
Daily Pivot 1.10124
S1 1.0979
S2 1.09585
S3 1.09251

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