• Wed. Jul 17th, 2024

๐Ÿ‡ช๐Ÿ‡บ ๐Ÿ‡บ๐Ÿ‡ธ EURUSD on Monday rose 0.08% to 1.08105. Pair in consolidation. What we know.

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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 0.08% 8.6 Pips
Week to-date 0.08% 8.6 Pips
May -1.85% -203.5 Pips

Upcoming key events (London Time)

Tue 08:30 AM EUR S&P Global/BME Composite PMI
Tue 08:30 AM EUR S&P Global/BME Manufacturing PMI
Tue 09:00 AM EUR S&P Global Composite PMI
Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

Consumer Confidence in May preliminary estimate exceed forecast and improved to -17.4 points compared to previous figure -17.5 points in April

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Mondayย roseย 0.08% to 1.08105. 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 1.07926 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08313 or trades above daily pivot 1.08119. While to the downside, the daily low of 1.07940 and 1.07926 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.08313 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 1.08672
R2 1.08492
R1 1.08299
Daily Pivot 1.08119
S1 1.07926
S2 1.07746
S3 1.07553


On Key

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