• Sat. Jun 15th, 2024

EURUSD on Monday dropped -0.07% to 1.08601. Pair in consolidation. What we know.

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Dear ,

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 -0.07% -7.3 Pips
Week to-date -0.07% -7.3 Pips
May 1.79% 191.1 Pips

Upcoming key events (London Time)

  Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

No major activities.


What can we expect from EURUSD today?

EURUSD on Monday dropped -0.07% to 1.08601. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08472 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08845 or trades above daily pivot 1.08659. Break above could target R1 at 1.08787. While to the downside, we are looking at 1.08472 (S1) and daily low of 1.08530 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08530 would indicate selling pressure.

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

Key levels to watch out:

R3 1.09102
R2 1.08974
R1 1.08787
Daily Pivot 1.08659
S1 1.08472
S2 1.08344
S3 1.08157
On Key

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