• Thu. Apr 18th, 2024

๐Ÿ‡ช๐Ÿ‡บ ๐Ÿ‡บ๐Ÿ‡ธ EURUSD on Thursday dropped -0.33% to 1.09550. 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 Thursday
Period Pct Chg Momentum
Thursday -0.33% -36.4 Pips
Week to-date 0.14% 14.9 Pips
June 2.52% 269.4 Pips

Upcoming key events (London Time)

No further events

What happened lately

Euro Area Consumer Confidence in June preliminary estimate below forecast and improved to -16.1 points compared to previous figure -17.4 points in May
U.S. Chicago Fed National Activity Index in May below forecast and dropped to -0.15 points compared to previous figure 0.07 points in April

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursdayย droppedย -0.33% to 1.09550. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at 1.09315 (S1) with break below could see further selling pressure towards 1.09079 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.10122 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.09483 would indicate selling pressure.

For the week to-date, take note that EURUSD is mixed as compared to prior week.

Key levels to watch out:

R3 1.10593
R2 1.10357
R1 1.09954
Daily Pivot 1.09718
S1 1.09315
S2 1.09079
S3 1.08676

 

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