• Wed. Jul 17th, 2024

๐Ÿ‡ช๐Ÿ‡บ ๐Ÿ‡บ๐Ÿ‡ธ EURUSD on Tuesday rose 0.32% to 1.07904. 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 0.32% 33.9 Pips
Week to-date 0.41% 44.4 Pips
June 0.98% 104.8 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 07:00 PM USD Interest Rate Projections
Thu 01:15 PM EUR ECB Interest Rate on main refinancing operations (MRO)
Thu 01:30 PM USD Initial Unemployment Insurance Claims
Thu 01:30 PM USD Monthly Retail Trade (1-mth)
Thu 01:45 PM EUR European Central Bank Press Conference

What happened lately

U.S. CPI Inflation Rate (12-mth) in May below forecast and dropped to 4% compared to previous figure 4.9% in April
Germany ZEW Indicator of Economic Sentiment in June exceed forecast and improved to -8.5 points compared to previous figure -10.7 points in May
U.S. Monthly Budget Statement in May exceed forecast and dropped to -240$ compared to previous figure 176$ in April

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesdayย roseย 0.32% to 1.07904. Price is above 9-Day EMA while Stochastic is rising.

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

Looking ahead for the day, immediate upside resistance level is at 1.08233 (R1) while on the downside, we are looking at daily low of 1.07580 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.08235 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 0.41% over the past few days.

Key levels to watch out:

R3 1.08888
R2 1.08561
R1 1.08233
Daily Pivot 1.07906
S1 1.07578
S2 1.07251
S3 1.06923


On Key

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