• Thu. Apr 18th, 2024

๐Ÿ‡ช๐Ÿ‡บ ๐Ÿ‡บ๐Ÿ‡ธ EURUSD on Wednesday rose 0.68% to 1.09910. 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 0.68% 74.6 Pips
Week to-date 0.47% 50.9 Pips
June 2.86% 305.4 Pips

Upcoming key events (London Time)

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

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 Wednesdayย roseย 0.68% to 1.09910. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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

Looking ahead for the day, immediate upside resistance level is at 1.10209 (R1) while on the downside, we are looking at daily low of 1.09040 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09923 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 0.47% over the past few days.

Key levels to watch out:

R3 1.11092
R2 1.10507
R1 1.10209
Daily Pivot 1.09624
S1 1.09326
S2 1.08741
S3 1.08443

 

On Key

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