• Thu. Jun 13th, 2024

🇪🇺 🇺🇸 EURUSD on Tuesday dropped 0% to 1.09215. 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 Tuesday
Period Pct Chg Momentum
Tuesday 0% 0.2 Pips
Week to-date -0.17% -18.6 Pips
June 2.21% 235.9 Pips

Upcoming key events (London Time)

Wed 03:00 PM USD Federal Reserve Chair Jerome Powell testifies
Thu 01:30 PM USD Initial Unemployment Insurance Claims

What happened lately

U.S. Building Permits (1-mth) in May exceed forecast and rose to 1.491M compared to previous figure 1.417, revised from 1.416M in April
Germany Producer Price Index (1-mth) in May exceed forecast and dropped to -1.4% compared to previous figure 0.3% in April

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesday dropped 0% to 1.09215. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08929 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09462 or trades above daily pivot 1.09196. While to the downside, the daily low of 1.08910 and 1.08929 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08910 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 1.10033
R2 1.09748
R1 1.09481
Daily Pivot 1.09196
S1 1.08929
S2 1.08644
S3 1.08377

On Key

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