• Wed. Jul 24th, 2024

🇪🇺 🇺🇸 EURUSD on Monday rose 0.35% to 1.10025. 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 0.35% 38.5 Pips
Week to-date 0.38% 41.2 Pips
July 1.24% 134.5 Pips

Upcoming key events (London Time)

Tue 07:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
Wed 01:30 PM USD CPI Inflation Rate (1-mth)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (1-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (12-mth)

What happened lately

Euro Area Sentix Investor Confidence in July below forecast and dropped to -22.5 points compared to previous figure -17 points in June

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Monday rose 0.35% to 1.10025. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks bullish as the pair ended higher after Monday trading session.

Looking ahead for the day, immediate upside resistance level is at 1.1023 (R1) while on the downside, we are looking at daily low of 1.09420 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10030 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.38% over the past few days.

Key levels to watch out:

R3 1.1084
R2 1.10435
R1 1.1023
Daily Pivot 1.09825
S1 1.0962
S2 1.09215
S3 1.0901

 

On Key

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