As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
|Performance after Monday|
|Week to-date||0.48%||51 Pips|
Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (12-mth)
What happened lately
No major activities.
What can we expect from EURUSD today?
EURUSD on Monday rose 0.48% to 1.07500. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
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 1.07697 (R1) while on the downside, we are looking at daily low of 1.07097 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.07594 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: