🇪🇺 🇺🇸 EURUSD on Monday rose 0.02% to 1.09087. Pair in consolidation. What happened.

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	0.02%	2.4 Pips
Week to-date	0.16%	17.7 Pips
June	2.09%	223.1 Pips

Upcoming key events (London Time)

Tue 09:00 AM EUR European Central Bank’s President Christine Lagarde speech
Tue 01:30 PM USD Durable Goods Orders
Tue 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft
Wed 09:30 PM USD Bank Stress Test Info

What happened lately

Germany ifo Business Climate in June dropped to 88.4 points compared to previous figure 91.5 points (revised from 91.7 points)

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Monday rose 0.02% to 1.09087. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08906 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09201 or trades above daily pivot 1.09054. While to the downside, the daily low of 1.08873 and 1.08906 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09201 may suggest continuation after recent positive movement.

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

Key levels to watch out: