• Tue. Dec 5th, 2023

๐Ÿ‡ช๐Ÿ‡บ ๐Ÿ‡บ๐Ÿ‡ธ EURUSD on Monday dropped -0.15% to 1.10010. Pair in consolidation. 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 Monday
Period Pct Chg Momentum
Monday -0.15% -16.4 Pips
Week to-date -0.15% -16.4 Pips
May -0.12% -13 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD CPI Inflation Rate (12-mth)

What happened lately

No major activities.

EURUSD Chart byย TradingView

What can we expect from EURUSD today?

EURUSD on Mondayย droppedย -0.15% to 1.10010. 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 1.09814 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10537 or trades above daily pivot 1.10176. While to the downside, the daily low of 1.09980 and 1.09814 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09980 would indicate selling pressure.

For the week to-date, take note that EURUSD is mixed as compared to prior week.

Key levels to watch out:

R3 1.10928
R2 1.10733
R1 1.10371
Daily Pivot 1.10176
S1 1.09814
S2 1.09619
S3 1.09257

 

 

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