• Wed. Jul 17th, 2024

🇪🇺 🇺🇸 EURUSD on Wednesday rose 0.29% to 1.09852. 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 Wednesday
Period Pct Chg Momentum
Wednesday 0.29% 31.5 Pips
Week to-date -0.29% -32.2 Pips
May -0.26% -28.8 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Initial Unemployment Insurance Claims
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

CPI Inflation Rate (12-mth) in April below forecast and dropped to 4.9% compared to previous figure 5% in March

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.29% to 1.09852. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09479 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10068 or trades above daily pivot 1.09773. While to the downside, the daily low of 1.09400 and 1.09479 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.10068 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 1.10815
R2 1.10441
R1 1.10147
Daily Pivot 1.09773
S1 1.09479
S2 1.09105
S3 1.08811

 

On Key

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