• Fri. Feb 23rd, 2024

πŸ‡ͺπŸ‡Ί πŸ‡ΊπŸ‡Έ EURUSD on Tuesday rose 0.47% to 1.09565. What we know.

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 0.47% 50.8 Pips
Week to-date 0.6% 65.5 Pips
June 2.54% 270.9 Pips

Upcoming key events (London Time)

Wed 02:30 PM EUR European Central Bank’s President Christine Lagarde speech
Wed 02:30 PM USD Federal Reserve Chair Jerome Powell speech
Wed 09:30 PM USD Bank Stress Test Results
Thu 01:00 PM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
Thu 01:30 PM USD Initial Unemployment Insurance Claims
Thu 01:30 PM USD GDP Annualized (12-mth)

What happened lately

U.S. New Residential Sales (1-mth) in May exceed forecast and rose to 0.763M compared to previous figure 0.68, revised from 0.683M in April
U.S. Housing Price Index (1-mth) in April exceed forecast and rose to 0.7% compared to previous figure 0.5, revised from 0.6% in March
U.S. Durable Goods Orders excluding Transportation in May rose to 0.6% compared to previous figure -0.6% (revised from -0.2%)
Germany ifo Business Climate in June dropped to 88.4 points compared to previous figure 91.5 points (revised from 91.7 points)

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on TuesdayΒ roseΒ 0.47% to 1.09565. Price is above 9-Day EMA while Stochastic is falling.

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 1.09882 (R1) while on the downside, we are looking at daily low of 1.09020 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09768 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 1.1063
R2 1.10199
R1 1.09882
Daily Pivot 1.09451
S1 1.09134
S2 1.08703
S3 1.08386


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