• Sat. Feb 24th, 2024

πŸ‡ͺπŸ‡Ί πŸ‡ΊπŸ‡Έ EURUSD on Monday rose 0.26% to 1.08754. 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 0.26% 28.4 Pips
Week to-date 0.26% 28.4 Pips
May -1.26% -138.6 Pips

Upcoming key events (London Time)

Tue 10:00 AM EUR GDP (seasonally adjusted) (3-mth)
Tue 10:00 AM EUR GDP (seasonally adjusted) (12-mth)
Tue 01:30 PM USD Retail Trade Turnover (1-mth)
Tue 01:30 PM USD Retail Trade Control Group
Tue 03:00 PM EUR European Central Bank’s President Christine Lagarde speech
Wed 11:00 PM EUR Ascension Day

What happened lately

No major activities.

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on MondayΒ roseΒ 0.26% to 1.08754. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08513 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08908 or trades above daily pivot 1.08711. While to the downside, the daily low of 1.08470 and 1.08513 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.08908 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 1.09389
R2 1.09149
R1 1.08951
Daily Pivot 1.08711
S1 1.08513
S2 1.08273
S3 1.08075

 

Leave a Reply

Your email address will not be published. Required fields are marked *