• Wed. Jul 17th, 2024

๐Ÿ‡ช๐Ÿ‡บ ๐Ÿ‡บ๐Ÿ‡ธ EURUSD on Tuesday rose 0.21% to 1.07310. 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 0.21% 22.2 Pips
Week to-date 0.06% 6 Pips
May -2.57% -283 Pips

Upcoming key events (London Time)

Wed 01:30 PM EUR European Central Bank’s President Christine Lagarde speech
Thu 01:30 PM USD Initial Unemployment Insurance Claims

What happened lately

USD Housing Price Index (1-mth) in March dropped to 0.6% compared to previous figure 0.7% (revised from 0.5%).

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesdayย roseย 0.21% to 1.07310. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06858 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07466 or trades above daily pivot 1.07162. While to the downside, the daily low of 1.06710 and 1.06858 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07466 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 1.0837
R2 1.07918
R1 1.07614
Daily Pivot 1.07162
S1 1.06858
S2 1.06406
S3 1.06102


On Key

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