• Tue. Dec 5th, 2023
Market Research

🇪🇺 🇺🇸 EURUSD on Monday rose 0.03% to 1.07090. Pair in consolidation. What we know.

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 Pips
Week to-date 0.03% 3 Pips
June 0.22% 23.4 Pips

Upcoming key events (London Time)

Tue 10:00 AM EUR Retail Trade Turnover (12-mth)

What happened lately

No major activities.

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Monday rose 0.03% to 1.07090. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06805 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07225 or trades above daily pivot 1.07015. While to the downside, the daily low of 1.06730 and 1.06805 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07225 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:

R3 1.07795
R2 1.0751
R1 1.073
Daily Pivot 1.07015
S1 1.06805
S2 1.0652
S3 1.0631

 

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